2024-04-24 04:17:57 ET
Summary
- Super Micro Computer stock has experienced a correction of over 40% from its peak prices this year.
- However, the sell-off is not over yet.
- Technical analysis suggests that SMCI is still in a downward trend and has not found a bottom yet.
- Fundamental analyses show SMCI stock's expansion phase in the current cycle is ending.
SMCI corrected for more than 40%
Super Micro Computer ( SMCI ) has suffered a correction of more than 40% off its peak prices recently, as seen in the chart below. The stock reached an all-time high of ~$1230 per share in March this year. The stock then has been under selling pressure (together with many cyclical stocks in the semiconductor industry). The sell-off worsened last week when the company broke its previous practice of providing preliminary earnings guidance. This has been interpreted as a negative sign by the market and raised concerns among investors....
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For further details see:
Super Micro Computer Hasn't Found Bottom Yet (Technical Analysis)