Super Micro Computer shares are trading lower as tech stocks pull back following February PPI data.
Portfolio Pulse from Benzinga Newsdesk
Super Micro Computer shares are trading lower due to a pullback in tech stocks following the release of February PPI data.
March 14, 2024 | 4:11 pm
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Super Micro Computer's stock is trading lower as a result of a broader pullback in technology stocks following the release of February's Producer Price Index (PPI) data.
The decline in Super Micro Computer's stock price is directly linked to the broader market reaction to the February PPI data, which has led to a pullback in technology stocks. Given SMCI's position within the tech sector, its stock is particularly sensitive to such market movements.
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