Super Micro Computer, Broadcom, Micron Technology, Lam Research and Advanced Micro Devices were the five worst performers on the S&P 500 index on the stock market today.
AI chip and hardware plays pulled back ahead of Nvidia earnings, due Wednesday night. Nvidia stock fell 2.25% on Monday.
S&P 500 Stock Losers
Super Micro stock plunged 8.3% to 562.51. Shares of the AI server maker and Nvidia partner had been hitting resistance at the 21-day moving average for several days. SMCI stock is below all of its key moving averages.
Super Micro stock remains one of 2024's top performers in the S&P 500 index, up 98%. But it's one of the year's biggest losers for the S&P 500, diving 47% since joining the index before the open on March 18.
Broadcom stock sank 4.05% to 159.62, back below the 50-day moving average. AVGO stock has a 185.16 consolidation buy point. The chip and software giant could be working on a handle with a potential 172.42 buy point. It would be valid as of Wednesday's close, moments before Nvidia earnings are released. Broadcom's own results are due Sept. 5.
Micron stock gave up 3.8% to 98.91, falling further from its 200-day line. MU stock hit a long-term high of 157.33 on June 18, tumbling to 84.91 on Aug. 5. The memory chip giant and AI play then rebounded until late last week.
Lam Research stock declined 3.4% to 818.91, falling further from its 200-day line once again.
AMD stock retreated 3.2% to 149.99, below the 50-day line after hitting resistance at the 200-day line. AMD has been consolidating since hitting 227.30 on March 8. Investors might use 187.28 as an early entry, or a trendline for a more-aggressive buy point.
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