Super Micro Computer Stock Is Falling Ahead of Nvidia's Big Earnings Report Today -- Is This a Buying Opportunity?
Super Micro Computer (NASDAQ: SMCI) stock headed lower Wednesday, trading down by 7.5% as of 1:38 p.m. ET, according to data from S&P Global Market Intelligence.
As macroeconomic concerns ticked up, artificial intelligence (AI) stocks broadly pulled back in Wednesday's trading. Adding another source of uncertainty into the mix, Nvidia is scheduled to report its fourth-quarter results after the market closes.
Nvidia's share price soared by 212% over the last year as the company's sales and earnings were buoyed by a rising tide of AI-driven demand, but investors appear worried that the stock may now be priced for perfection. The graphics processing unit (GPU) leader's Q4 results will likely have a significant near-term impact on Supermicro and other AI stocks, and investors are backing off the category a bit in order to minimize their risk.
Source Fool.com
