Why Super Micro Computer Stock Plummeted Last Week
Super Micro Computer (NASDAQ: SMCI) stock got hit with a wave of selloffs last week in response to the company's latest quarterly report. The server specialist's share price fell 21.3% over the stretch, which saw the S 500 climb 2.4% and the Nasdaq Composite rise 3.9%.
Artificial intelligence (AI) stocks generally saw very strong performance over the past week, but Supermicro's valuation took a big hit after the server provider published results for the fourth quarter of its last fiscal year, which ended June 30. While the company issued encouraging forward guidance, sales and earnings in fiscal Q4 fell short of the market's targets.
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Source Fool.com
