Why Super Micro Computer Rocketed Higher Today
Shares of Super Micro Computer (NASDAQ: SMCI) were rallying on Thursday, up a whopping 7.5% on the day as of 2:35 p.m. ET.
Unlike many other beaten-down stocks that are rallying today, Super Micro had already appreciated mightily in 2023, up a whopping 233% on the year. Still, the stock remains about 25% below its early August highs. So the prospects of lower interest rates and an economic "soft landing" appear to be spurring a "risk on" mentality in cyclical stocks, such as financials, industrials, and, in the case of Super Micro, technology hardware.
In addition, Super Micro issued a press release today highlighting new availability of servers built with the new (NASDAQ: INTC) fifth-generation Xeon server processor, perhaps incrementally increasing excitement for this AI stock.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 27 Buy predictions and 12 Sell predictions.
With a target price of 38 € there is a positive potential of 30.65% for Intel Corp. compared to the current price of 29.09 €.
