Supermicro stock looks like a bargain if you assume demand for AI servers will continue to rise going forward. If that's not the case, though, the stock could fall further as sales contract. With so much uncertainty surrounding Supermicro, I'll be staying away from the stock.

Investors are nervous about what Super Micro’s profit warning and inventory trends could mean for the entire AI infrastructure market.

Super Micro Computer (NASDAQ: SMCI), more commonly known as Supermicro, executed its first stock split on Oct. 1, 2024. That 10-for-1 split reduced its trading price from $416.40 to about $41.64 per share, while its market cap remained nearly unchanged at $24 billion.