SUPER MICRO COMPUTER INC stock surged sharply higher on Tuesday as tech stocks rebounded from Monday's steep selloff.

Shares of the server maker rose 11% to $40.84. Other tech behemoths closed in the red: Shares of IBM and Intel, both of which Super Micro counts among its clients, were down 3.1% and 0.8%, respectively.

Tech stocks broadly shifted between gains and losses today. By the close, the tech-heavy Nasdaq Composite fell 0.2% after a 4% drop on Monday. The iShares U.S. Technology exchange-traded fund was down 0.2%, while the Technology Select Sector SPDR ETF was down 0.4%.

The S&P 500 dipped 0.8% lower, while the Dow Jones Industrial Average lost 478 points or 1.2%. Multiple headlines on tariffs and a Ukraine-Russia cease fire were behind the day's volatile trading.

Super Micro was the top-performer in the S&P 500 on Tuesday. Shares began to climb Monday after Rosenblatt Securities analyst Kevin Cassidy reinitiated coverage with a Buy rating and $60 price target, representing a potential 56% upside.

Cassidy noted that the company's artificial intelligence revenue composed nearly 70% of total sales and continued to accelerate. The analyst was enthusiastic about Super Micro's ability to deliver liquid cooling at scale, noting that such a feat has been hampered by concerns about expenses and reliability.

CEO Charles Liang's appearance on Fox Business Monday afternoon may have also delivered a boost to the shares. Speaking from the HumanX conference in Las Vegas, Liang sat for his first interview since Ernst & Young resigned as Super Micro's auditor in October 2024.

Liang emphasized that the company's new auditor, BDO USA, simply "needed time" to finish reviewing Super Micro's delayed Form 10-K and stressed that any accounting issues were in the past.

Super Micro has had a whirlwind year so far. The stock ended February as the top performer in the S&P 500. It rallied earlier in the month, following a fiscal second-quarter business update in which its longer-term sales guidance handily topped analysts' forecasts.

After weeks of uncertainty, the company met the Feb. 25 deadline to submit its audited 10-K for the fiscal year ending on June 30, as well as two delayed quarterly earnings reports, avoiding delisting from the Nasdaq.