Super Micro Computer Surged Today -- Is It Too Late to Buy the Red-Hot Artificial Intelligence (AI) Growth Stock?
Super Micro Computer (NASDAQ: SMCI) stock jumped again in Wednesday's trading. The company's share price closed out the daily session up 11.3%, according to data from S&P Global Market Intelligence.
On Tuesday, analysts published a note on Super Micro (known as Supermicro) stock. The firm's analysts raised their one-year price target from $691 per share to $961 per share due to indications that artificial intelligence (AI) would continue to power strong demand for Supermicro's rack servers. Based on today's closing price, the new target from the Barclays analysts suggests additional potential upside of 9% for the stock.
Additionally, it's likely that Supermicro stock got a boost from a bullish report on Nvidia stock from Susquehanna that was published today. In the Susquehanna note, analyst Christopher Rolland said that he expected Nvidia to record fourth-quarter revenue that beat the market's current targets thanks to AI-driven demand. With Supermicro also benefiting from surging AI-related related demand, good news for Nvidia could bode well for the server and storage company's own outlook.
Source Fool.com
