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Pathikrit Bose

Down 43% from Highs, Should You Buy the Dip in Super Micro Computer Stock?

Super Micro Super Micro Computer SMCI Dell

Around since 1993, San Jose-based Super Micro Computer (SMCI) has been in the limelight over the past year or so. Due to the artificial intelligence (AI) revolution that has dominated market momentum recently, the share price of this designer, developer, manufacturer and marketer of high-efficiency server and storage solutions is up by a whopping 556% over the past year, including a rally of about 148% on a YTD basis.

However, Super Micro's not-so-micro rally ran into an obstacle late last week. On Friday alone, the stock corrected by more than 23%, its sharpest one-day decline since August 2023. Traders were rattled after SMCI said that its upcoming earnings would be released on April 30, but opted against pre-announcing the results. Now, the shares are off about 43% from their 52-week highs.

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