It was a bad day for artificial intelligence stocks on Friday. It started when Super Micro Computer said it won’t pre-announce earnings and that it will report fiscal third-quarter results on April 30. That spooked investors who worried the company’s earnings might not meet expectations.
Super Micro Computer stock dropped 23% Friday, making it the day’s biggest loser in the S&P 500. That came just days after a steep gain for the AI hardware company
Nvidia chips are used in Super Micro Computer’s server solutions. The negative sentiment spread to other AI stocks, making them the worst performers on Friday.
Nvidia stock closed down 10%, the second-biggest loss in the S&P 500. Micron Technology stock dropped 4.6% and Advanced Micro Devices lost 5.4%.
Even with Friday’s drop, Super Micro Computer stock and Nvidia stock are up 150% and 58%, respectively, so far this year.