Why Super Micro Computer Stock Is Skyrocketing Again This Week
Super Micro Computer (NASDAQ: SMCI) stock's incredible rally has continued this week. The sever and storage company's share price was up 35.6% from last week's market close before the market opened this Friday, according to data from S&P Global Market Intelligence.
Super Micro Computer stock got a boost from favorable coverage from multiple analysts, and it also got a boost from bullish coverage on Nvidia. Supermicro's share price is now up roughly 253% across 2024's trading and 980% over the last year.
On Feb. 13, analysts released a bullish note on Supermicro. Citing strong demand indicators in the Asian market and an expanding order backlog for the business, the firm's analysts raised their one-year price target on the stock from $691 per share to $961 per share.
Source Fool.com
