<div id="readability-page-1">BETA This is a BETA experience. opt-out here Money Markets Why Is SMCI Stock Falling?  ByTrefis Team ,  Contributor.  Forbes contributors publish independent expert analyses and insights. Building a platform to do the job of 1 million analysts for  Great Speculations Follow Author Dec 16, 2025, 02:07pm EST  CHONGQING, CHINA - JULY 31: In this photo illustration, a person holds a smartphone displaying the logo of Super Micro Computer Inc. (NASDAQ: SMCI) (Photo illustration by Cheng Xin/Getty Images) Getty Images Super Micro Computer (SMCI) stock reached the fifth day of a streak characterized by losses, accumulating a total return of -11% during this timeframe. The company has seen a decline of approximately $3.6 billion in value over the past five days, resulting in a current market capitalization of about $19 billion. The stock is presently 2.9% higher than its value at the conclusion of 2024. This is in comparison to the year-to-date returns of 15.9% for the S&amp;P 500.  Recently, Super Micro Computer went through a significant drop as investors reacted to Q1 earnings that fell short of projections ($0.35 EPS compared to $0.46 expected), amidst increased competition and decreasing gross margins (9.5%). Concerns regarding negative free cash flow contributed to skepticism surrounding sustainable profitability, despite optimistic growth projections for AI infrastructure.  strong Prolonged weakness can indicate more than mere fluctuations. Such trends often reflect shifts in sentiment or deeper issues. A consecutive losing streak could signal potential further declines, or it may also present a buying opportunity if the underlying fundamentals remain strong. strong: There strong SMCI stock based on its overall Moderate operational performance and financial condition. This aligns with the stock's Moderate valuation, leading us to believe it is Fairly Priced (see Buy or Sell SMCI ).  For a brief overview, SMCI delivers high-performance modular server and storage solutions, which include servers, blades, racks, and networking devices for enterprise data centers, cloud computing, AI, 5G, and edge computing markets.  Comparing SMCI Stock Returns With The S&amp;P 500  The subsequent table outlines the returns for SMCI stock against the S&amp;P 500 index over various timeframes, including the ongoing streak:  MORE FOR YOU metrics1 Trefis Analyze historical trends to understand whether past declines like this represented buying opportunities or pitfalls: SMCI Dip Buyer Analysis .  Gains and Losses Streaks: S&amp;P 500 Constituents  At present, there are 105 S&amp;P constituents that have recorded 3 or more consecutive days of gains, alongside 41 constituents that have noted 3 or more consecutive days of losses.  metrics2 Trefis strong Super Micro Computer (SMCI)  Last 2 Fiscal Years:  metrics3 Trefis Last 2 Fiscal Quarters:  metrics4 Trefis The current losing streak of SMCI stock does not instill much confidence in investors. In contrast, Trefis High Quality (HQ) Portfolio , comprising 30 stocks, has demonstrated a history of consistently outperforming its benchmark, including all three — the S&amp;P 500, S&amp;P mid-cap, and Russell 2000 indices. What accounts for this? As a collective, HQ Portfolio stocks have delivered superior returns with lower risk compared to the benchmark index; providing a less volatile investment experience, as reflected in HQ Portfolio performance metrics .  Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

超微電腦

<p>超微電腦（SMCI）股票連續五天下跌，價值損失了 11%。下跌的原因是第一季度的收益未達預期、競爭加劇以及毛利率下降。儘管對人工智能基礎設施的增長前景持樂觀態度，但對負自由現金流的擔憂使人們對可持續盈利能力產生懷疑。該股票的運營表現和財務狀況適中，表明其價格合理，但連續的下跌引發了投資者的擔憂</p>

Why Is SMCI Stock Falling?

- 超級微型計算機（SMCI）股價已連續五天下跌，損失總額達 11%。
- 市值下降至約 190 億美元，主要因 Q1 財報未達預期，且競爭加劇。
- 投資者對負自由現金流和盈利可持續性感到擔憂，儘管 AI 基礎設施展現樂觀增長。

為什麼 Super Micro Computer 的股票在下跌？