SMCI - Down 30% From Its All-Time High Should You Buy Artificial Intelligence (AI) Superstar Super Micro Computer?
2024-06-30 06:45:00 ET
Super Micro Computer (NASDAQ: SMCI) was one of the most prominent artificial intelligence (AI) investments of the year, rocketing over 300% higher from the start of the year to mid-March. Since then, the stock declined around 30% and has stayed fairly steady since the end of March.
So, should investors consider an AI stock that has been successful but has been sitting dormant for a while? After all, it was one of the best-performing stocks in the market to start the year.
Super Micro Computer (often called Supermicro) builds servers and data center components. This industry is clearly benefiting from the AI arms race, which is essentially the same trend driving Nvidia higher. As a result, investors saw this as a second chance to get in on Nvidia after they missed the move in 2023 (even though Nvidia is up over 150% in 2024 so far).
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Down 30% From Its All-Time High, Should You Buy Artificial Intelligence (AI) Superstar Super Micro Computer?