Here Is What Not To Do When Investing In AI, ISM Ahead

Quick Summary:

SMCI sales are to hyperscalers like Microsoft Corp (NASDAQ:MSFT), Amazon.com, Inc.(NASDAQ:AMZN), Alphabet Inc Class C (NASDAQ:GOOG).  The reason SMCI sales are booming is that they have availability of NVDA chips.  As chips become more available to competitors, SMCI will not be able to sustain its sales growth rate.The momo crowd ...

SMCI has long been the second most favorite stock of the momo crowd.  A majority of the momo crowd positions were bought when the momo crowd was super excited on SMCI crossing above $1000.  As of this writing in the premarket, SMCI is trading at $432.24.

The chart shows the SMCI stock took another leg down when SMCI said that it would not timely file its Annual Report on Form 10-K for the fiscal year ending June 30, 2024.  The delay is apparently due to weakness in internal controls.

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Author / Journalist: The Arora Report

Category: Technology

Markets: United States

Topics: Benzinga AAPL Markets US78462F1030 MSFT NVDA US78463V1070 US5949181045 US86800U1043 US91232N1081 US73935A1043 US0231351067 SLV US0378331005 US5951121038 MU Trading Ideas MRVL SPY GOOG US88160R1014 US46428Q1094 BMG5876H1051 AMZN Contributors $BTC USO AI Magnificent Seven TSLA Expert Ideas QQQ US67066G1040 SMCI Tech META Oil GLD Gold US38259P7069

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Article Type: News Report

Published On: 2024-09-03 @ 15:41:33 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 751 words

Reading Time: 5 minutes read

Sentences: 26 lines

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Copyright Owner: © Benzinga

News ID: 22351246

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