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While SMCI jumped 26% on stronger-than-expected margins and a record AI order pipeline, SMCX emerged as a top-performing leveraged ETF.
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Super Micro stock drops 9.6% as former Western Digital exec Mark Long takes over as CFO while the company addresses internal accounting and export-control scrutiny.
The Nasdaq 100 fell 1.5% at midday Friday as memory chips and AI-debt names sold off, while Fed Chair Warsh declined to rule out an October hike after hot CPI and PPI. WTI held near $96, the 10-year yield hovered around 5.1%, gold bounced toward $4,200 and bitcoin traded near $81,300.
Hewlett Packard Enterprise stock fell 20.2% this week after Barclays downgraded the company, citing concerns that corporate AI hardware adoption is taking longer than expected. The analyst noted that only 5% of IT budgets are currently allocated to AI, with recent server revenue gains driven by higher component costs rather than increased unit shipments. Despite the downgrade, the author argues HPE's networking business, GreenLake subscription service, and strong backlog position it well even if enterprise AI spending slows.
Why is SMCI stock falling Thursday? An export-control case involving a Super Micro contractor and a tech sector decline are pressuring Super Micro Computer stock.