Why Super Micro Computer Stock Is Soaring Today
Super Micro Computer (NASDAQ: SMCI) stock is posting big gains in Thursday's trading. The company's share price was up 15.4% as of 1:15 p.m. ET.
Supermicro stock is gaining ground on the heels of Nvidia's recently published third-quarter results. Supermicro is one of Nvidia's largest customers, and the artificial intelligence (AI) leader's Q3 results, commentary, and forward guidance are sending bullish signals for other AI stocks.
Nvidia published its Q3 results after the market closed yesterday and reported sales and earnings for the period that beat Wall Street's expectations. The company reported non-GAAP (adjusted) earnings per share of $0.81 on revenue of $35.08 billion, beating the average analyst estimate's call for per-share earnings of $0.75 on revenue of $33.16 billion.
Source Fool.com
