Super Micro Computer Fell Again Today -- Is This an Opportunity to Buy 2024's Most Explosive AI Stock?
Super Micro Computer (NASDAQ: SMCI) stock slipped in Tuesday's trading. The company's share price closed out the daily session down 6.8%, according to data from S&P Global Market Intelligence. Notably, it had been down as much as 11.7% earlier in the day's trading, but it bounced back as some investors bought into the sell-off.
While there wasn't any business-specific news pushing Supermicro stock lower today, the server-and-storage technology company's share price lost ground as Wall Street weighed potential macroeconomic risks. The trend impacted many high-profile artificial intelligence (AI) stocks with growth-dependent valuations, including Nvidia and .
Before the market opened this morning, Home Depot published its fourth-quarter earnings results and set a bearish backdrop for the broader market. While the retailer may not seem to have much connection to AI stocks, the company's performance and guidance is a bellwether for the U.S. economy.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 81 Buy predictions and 2 Sell predictions.
With a target price of 176 € there is a positive potential of 34.58% for Advanced Micro Devices Inc. compared to the current price of 130.78 €.
