Why Super Micro Computer Stock Is Sinking Today
Super Micro Computer (NASDAQ: SMCI) stock is seeing a significant pullback in Monday's trading. The server specialist's share price was down 3.8% as of 12:45 p.m. ET. At the same point in the day's trading, the S 500 was up 0.2% and the Nasdaq Composite was down 0.3%. The stock had been down as much as 10.4% earlier in trading.
Supermicro stock is seeing a pullback in conjunction with bearish momentum for artificial intelligence (AI) stocks -- as investors appear to be feeling a bit jumpy ahead of Nvidia's earnings on Wednesday. Investors are also likely feeling the jitters due to a major update from Supermicro that's slated for tomorrow.
Tech stocks are continuing a slide that started late in last week's trading as investors weigh macroeconomic risks and the significance of Nvidia's upcoming fourth-quarter report. The AI leader's performance in the period and forward guidance could trigger big movement for the stock market at large.
Source Fool.com
