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 $NVDA 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 $MU 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.