Following a terrific start to the year, Super Micro Computer 's ( SMCI 4.59%) stock chart has undergone a stark reversal over the past six months. It has lost close to 60% of its value from its peak, and recent developments seem to have further dented investor confidence in the company.

Dell Technologies stock was climbing on Tuesday after a Mizuho analyst initiated coverage of the shares with an Outperform rating and said the maker of PCs and other hardware has some unique advantages.

Super Micro Computer (NASDAQ: SMCI) investors have been on a roller-coaster ride in 2024. The stock entered the year at $280, then it quickly peaked at nearly $1,200 in March. Since then, it's been a near-straight fall down, and the stock currently sits around $440.

Last month, Supermicro announced it would split its shares on a 10-for-1 basis. And Oct. 1 is when the stock will trade on a post-split basis. That means rather than trading at $400 or so per share, the stock price will be around $40 -- assuming it doesn't move a whole lot from where it is right now.

Super Micro Computer stock has plenty more upside ahead, according to a Needham analyst who expects investors to buy up shares of the server maker, which he thinks will be a successful AI play. Quinn Bolton initiated coverage of Super Micro with a Buy rating and a $600 price target,

Everybody knows that Super Micro Computer Inc. is top dog in the artificial-intelligence server market with a “dominant share,” according to Mizuho Securities — but that doesn’t mean investors should buy the stock.