Super Micro Computer Inc. (NASDAQ:SMCI) stock fell more than 2% Thursday as investors pulled back from higher-risk technology stocks. The Nasdaq was down 0.73%, while the S&P 500 fell 0.43%.

Super Micro Starts Shipping NVIDIA Vera Rubin Racks

Separately, Super Micro said Wednesday that it is now shipping NVIDIA Corp. (NASDAQ:NVDA) Vera Rubin NVL72 racks integrated with its Data Center Building Block Solutions and direct liquid cooling technology.

Its Vera Rubin NVL72 systems combine 72 NVIDIA Rubin GPUs and 36 Vera CPUs in a single liquid-cooled rack. The company is also offering cooling, networking, storage, power, and deployment services through its Data Center Building Block Solutions platform.

Its blueprint can scale from 5-megawatt deployments to gigawatt-sized AI data centers. One Vera Rubin NVL72 Scalable Unit includes 1,152 Rubin GPUs and 331 terabytes of HBM4 memory across 16 compute racks.

Super Micro said it can handle projects from site surveys and system design through integration, testing, deployment, and ongoing support. The launch expands the company's role in the infrastructure needed to deploy NVIDIA's next-generation AI hardware.

Order Book And Revenue Outlook

At the Goldman Sachs Communacopia + Technology Conference on Sept. 10, Senior Vice President of Corporate Development Michael Staiger stated AI demand remained "pretty excellent."

Staiger said the company's roughly $60 billion order book supports its fiscal 2027 revenue outlook of $65 billion to $72 billion.

He also described AI infrastructure spending as a multiyear opportunity, noting Super Micro sees demand across neocloud providers, enterprises, and sovereign customers.

Technical Analysis

Despite Thursday's decline, Super Micro remains above its major moving averages.

The stock is about 5% above its 20-day simple moving average of $38.71. It is also roughly 28% above its 200-day SMA of $31.75.

The 20-day SMA remains above the 50-day SMA. In addition, the golden cross formed in August remains intact.

Momentum also remains constructive. The moving average convergence divergence indicator is above its signal line, while the histogram remains positive. That suggests selling momentum has eased.

Traders could watch $42 as near-term resistance. On the downside, $35.50 represents an important support area.

Analyst Outlook

Super Micro carries a Hold consensus rating with an average price forecast of $39.50.

Citigroup maintained a Neutral rating on Aug. 12 and raised its price forecast to $39. Goldman Sachs maintained a Sell rating and raised its forecast to $34. Mizuho maintained a Neutral rating and increased its forecast to $35.

The stock trades at a P/E ratio of about 12.7.

ETF Exposure

Several exchange-traded funds also hold Super Micro.

The iShares Future AI & Tech ETF (NYSE:ARTY) has a 4.40% weighting in the stock. The iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:IDGT) has a 4.94% weighting, while the ERShares Entrepreneurs ETF (NASDAQ:ENTR) has a 3.74% weighting.

Super Micro Computer Price Action

Super Micro Computer shares were down 2.35% at $40.46 at the time of publication Thursday, according to market data.