Super Micro Computer Stock Fell Today Despite Nvidia's Blockbuster Quarter -- Is This a Buying Opportunity?
Super Micro Computer (NASDAQ: SMCI) stock fell in Thursday's trading. The server specialist's share price closed out the daily session down 3%, according to data from S&P Global Market Intelligence. The stock had been up as much as 11.3% early in the day's trading.
While there wasn't any business-specific news powering Supermicro's initial gains today, investors poured into the stock following Nvidia's (NASDAQ: NVDA) strong first-quarter results. But bullish momentum receded, and the gains didn't hold.
Supermicro purchases graphics processing units (GPUs) from Nvidia and uses them as key components in the servers that it sells. These servers have been in high demand as companies have moved to rapidly deploy and scale artificial intelligence (AI) software.
Source Fool.com
