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We recently published an article titled Two of 10 Worst-Performing Stocks Fall to All-Time Lows on Tuesday. In this article, we are going to take a look at where Super Micro Computer, Inc. (NASDAQ:SMCI) stands against the other stocks.
Wall Street extended a lackluster performance on Tuesday, with two of its major indices ending with marginal movements amid a series of key economic factors dampening investor sentiment.
Only the Dow Jones finished in the green territory, posting a 0.37 percent gain. In contrast, the S&P decreased by 0.47 percent while the tech-heavy Nasdaq fell by 1.37 percent.
Mirroring the mostly broader pessimism are 10 companies, with two even falling to new all-time lows. In this article, we have detailed the reasons behind their drop.
To come up with Tuesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
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Super Micro Computer, Inc. (NASDAQ:SMCI)
Super Micro Computer, Inc. (NASDAQ:SMCI) fell for a fourth day on Tuesday, losing 11.76 percent to end at $45.54 apiece ahead of the submission of its delayed filings to retain its position as a Nasdaq-listed company.
However, Super Micro Computer, Inc. (NASDAQ:SMCI) surprised investors when it was able to submit its delayed filings after market hours, pushing the company’s after-hours price higher by 20 percent.
Super Micro Computer, Inc. (NASDAQ:SMCI) said in a statement that the Nasdaq accepted its compliance with the exchange requirements and that the matter is now closed.
In its delayed annual report, Super Micro Computer, Inc. (NASDAQ:SMCI) said sales in fiscal year 2024 more than doubled to $14.99 billion year-on-year on the back of growing demand for its products to support artificial intelligence.
Earlier this month, SMCI said revenue could hit $40 billion in fiscal year 2026 after reaching $23.5 billion to $25 billion in 2025.
Overall SMCI ranks 6th on our list of Tuesday's worst performers. While we acknowledge the potential of SMCI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as SMCI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.