David Paul Morris | David Paul Morris Bloomberg | Getty Images
super microcomputer The stock plunged 18% on Friday as investors pared back holdings of one of the market’s hottest stocks ahead of earnings reports later this month.
Super Micro, which joined the S&P 500 in March, is still up about 168% this year after rising 246% in 2023. Nvidiawhose technology is the backbone of most of today’s powerful artificial intelligence models.
AMD said in brief Press release On Friday, the company will report fiscal third-quarter results on April 30. In January, Super Micro raised its sales and profit forecasts 11 days before releasing second-quarter financial data.
The stock is facing its biggest drop since Feb. 16, when shares fell about 20%.
While Super Micro has received a huge boost from its partnership with Nvidia, competition in the market remains fierce, with competitors including Dell and Hewlett Packard Enterprise It is planned to build the system using Nvidia’s latest generation Blackwell graphics processing unit.
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