Super Micro Computer Inc. saw its stock tumble 15% in after-hours trading Tuesday, after pre-announcing a big March-quarter shortfall — and the transition to new Nvidia Corp. chips could be the reason why.

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.

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.