Super Micro Computer Fell Today -- Is This a Great Chance to Buy the Artificial Intelligence (AI) Stock?
Super Micro Computer's (NASDAQ: SMCI) share price slipped in Wednesday's trading. The artificial intelligence (AI) stock ended the daily session down 4.1%, according to data from S&P Global Market Intelligence.
Top AI stocks lost ground in today's trading, and Supermicro got caught up in the pullback. Recent filings published through the Securities and Exchange Commission (SEC) showed that members of Nvidia's board of directors had recently sold roughly $80 million worth of company stock.
In addition to news that Nvidia insiders had recently unloaded shares, an analyst's recent coverage of SoundHound AI stock likely impacted Supermicro's share price today. Citing valuation concerns, a Northland analyst lowered the firm's rating on SoundHound from outperform to market perform in a note published today. As a result of these catalysts, investors became more cautious about Super Micro Computer stock today.
Source Fool.com
