Here's why Super Micro (SMCI) stock price is crashing

Of all the memorable events in the financial markets that have marked 2024 thus far, the saga of Super Micro Computer (NASDAQ: SMCI) was perhaps the most unexpected. SMCI stock benefited greatly from the ongoing artificial intelligence rally. At the beginning of the year, a single Super Micro share was worth $28.55 —then, the price reached a yearly high of $118.81 in mid-March.In the following two quarters, this 316.14% rally did not continue — Super Micro shares receded to a price of $54.76 by August 26. T ...