Worried About Super Micro Computer? Here Is a Solid Artificial Intelligence (AI) Stock to Buy Hand Over Fist Instead.
Super Micro Computer (NASDAQ: SMCI) has been one of the hottest stocks on the market since the beginning of 2023 when the artificial intelligence (AI) revolution started gaining momentum, but the company ran into tough times of late.
More specifically, Supermicro stock delivered stunning gains of 433% since the start of 2023. However, they have retreated 51% since the beginning of March. That may seem a bit surprising at first given that Supermicro has been recording outstanding growth in its revenue and earnings thanks to the booming demand for its AI servers.
However, Supermicro has been accused by Hindenburg Research of accounting manipulation, and the server specialist's announcement that it would be delaying its annual filing with the Securities and Exchange Commission (SEC) also added to the bearishness around the stock that has crashed significantly of late.
Source Fool.com
