Down 25%, This Magnificent Artificial Intelligence (AI) Stock Is a Screaming Buy Before It Jumps 170%
The artificial intelligence (AI) craze has driven Super Micro Computer (NASDAQ: SMCI) stock up significantly this year, with shares of the company that's known for providing modular server solutions rising 222% in 2023 as of this writing. The good part is that investors still have an opportunity to add this high-flying stock to their portfolios.
After all, shares of Super Micro are down nearly 25% since hitting their 52-week highs in early August. Let's see what's dragging the stock down and check why this seems like an opportunity for savvy investors to buy a stock that could deliver eye-popping returns in the long run.
Super Micro Computer's fiscal 2023 fourth-quarter results, which were released in August this year, brought its red-hot rally to a screeching halt as investors weren't enamored by the company's soft guidance. But a closer look suggests that investors were simply looking for a reason to book profits as Super Micro delivered terrific growth and issued an encouraging outlook.
Source Fool.com
