{ }
Symbol SMCI
Name Super Micro Computer, Inc.
Currency USD
Sector Information Technology
IndustryGroup Technology Hardware & Equipment
Industry Technology Hardware, Storage & Peripherals
Market NASDAQ Global Select
Country United States
State CA
City San Jose
Zipcode 95131
Website http://www.supermicro.com
MicroStrategy has appointed former Binance.US CEO Brian Brooks, along with Jane Dietze and Gregg Winiarski, to its board of directors, expanding the board to nine members. This announcement follows MicroStrategy's inclusion in the Nasdaq-100 Index, effective December 23. Brooks, who previously served as acting Comptroller of the Currency, is noted for his significant connections in the banking and crypto sectors.
Intel's stock is currently undervalued, trading at just 1.6 times sales and 0.9 times book value, despite significant investments in chip-making infrastructure. The company is pivoting towards a foundry business model, which could lead to substantial long-term growth as demand for AI hardware rises. While it may not regain its former dominance, Intel is positioned for potential market-beating returns in the coming years.
Super Micro Computer has faced significant challenges, including a delayed annual report, the resignation of its auditor, and an accounting probe, leading to its removal from the Nasdaq-100. Despite these issues, an analyst predicts a potential 174% upside for the stock, driven by strong demand for its data center infrastructure, particularly with Nvidia's GPUs. However, uncertainties remain until the company resolves its accounting concerns and files its annual report.
The S&P 500 rose 0.4% on December 16, driven by tech stocks ahead of the Federal Reserve's interest-rate announcement. Broadcom surged 11.2% following strong AI sales, while Tesla's stock jumped 6.1% amid optimism for its self-driving technology. Conversely, Super Micro Computer plummeted 8.3% after its removal from the Nasdaq 100 and plans for a capital raise.
The S&P 500 and Nasdaq Composite reached new highs, while the Dow faced its eighth consecutive loss as investors await the Federal Open Market Committee's interest rate decision. Despite a positive trend in new highs, breadth data indicates underlying market weakness, with more decliners than advancers. Nvidia's stock correction continues, raising concerns about future sales, yet analysts remain optimistic about tech stocks' growth driven by the AI Revolution.
The Nasdaq reached a record high as investors anticipated a Federal Reserve rate cut, with a 95.4% probability for a 25 basis point reduction. The S&P 500 also rose, buoyed by gains in major tech stocks, while economic indicators showed a decline in manufacturing activity. Retail sales data is expected to provide further insights ahead of the Fed's decision.
MicroStrategy's stock surged nearly 5% following its announcement of acquiring an additional 15,350 bitcoins for $1.5 billion, bringing its total holdings to approximately 440,000 bitcoins. The company will also join the Nasdaq 100 on December 23, replacing three other firms. Despite skepticism from some analysts regarding its strategy, MicroStrategy's shares have skyrocketed over 580% this year.
Super Micro Computer's stock fell nearly 5% amid concerns of potential delisting from the Nasdaq, following a series of financial reporting issues and the resignation of its accounting firm, Ernst & Young. The company is seeking to raise capital through equity and debt to stabilize its finances. Despite recent declines, the stock is still up about 23% this year.
Supermicro's stock (SMCI) fell over 6% to $33.92 after being removed from the Nasdaq 100 index, dropping below its 50-day moving average. Despite accounting issues and delayed financial reports, customer orders remain stable, with a year-to-date increase of 20% from a split-adjusted high of $122.90 in March.
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