Super Micro Computer (SMCI), the best-performing S&P 500 stock in the first half of the year, has tumbled some 16% on Wednesday following a worse than expected fiscal fourth-quarter result.
experiences its worst plunge since April 19. Operating margins slim down in recent quarter, shortages hurt profits. Management is guiding for between $26B and $30B in FY 2025 revenue. Super Micro stock is trading 58% off its March 8 high. Super Micro Computer , the best-performing S&P 500 stock in the first half of the year, has tumbled some 16% on Wednesday following a worse than expected fiscal fourth-quarter result.
shares were alreadytrending below their 200-day Simple Moving Average , so shareholders can't say they weren't warned. If there is any hope for serious support, it may be the $467.22 level formed by the 261.8% Fibonacci Retracement. When rallied hard in late January that it where it discovered brief consolidation before exploding higher. The 200-day SMA near $700 and the 161.8% Fibo at $656 make that the region to overcome in order to put an end to the downtrend. Wednesday's plunge was the worst performance since April 19's 23% slide, but the massive revenue guidance should help the share price heading into November earnings, so now may be a great time for entry.
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