Super Micro (SMCI) and Hewlett Packard Enterprise (HPE) Fall as May Payrolls Surge Reignites Rate Hike Worries

Shares of Super Micro Computer (SMCI) and Hewlett Packard Enterprise (HPE) declined on June 5, 2026, after a much stronger-than-expected U.S. jobs report sent Treasury yields spiking and fueled concerns the Federal Reserve will keep interest rates elevated. The Labor Department reported nonfarm payrolls rose by 172,000 in May, more than double the 80,000 consensus estimate. The 10-year Treasury yield jumped above 4.5%, reigniting rate hike expectations and punishing high-valuation hardware stocks sensitive to rising discount rates. Super Micro, a highly volatile name with 54 moves of over 5% in the past year, fell as the macro headwind weighed on enterprise spending sentiment. The stock had already dropped 6.6% on June 3 amid similar rate anxiety and GitLab’s restructuring announcement, which signaled ongoing corporate cost management. SMCI remains up 36.3% year-to-date at $42.20 but trades 30.5% below its 52-week high of $60.71 set in July 2025.