Why Super Micro Computer Stock Is Surging Today
Super Micro Computer (NASDAQ: SMCI) stock is making big gains in Thursday's trading. The company's share price was up 10% as of 12:45 p.m. ET, according to data from S&P Global Market Intelligence.
While there wasn't any business-specific news for the company, strong earnings for (NASDAQ: AVGO), promising developments for Oracle, and continued momentum for artificial intelligence (AI) stocks are powering big gains for Super Micro's share price today. The high-performance server specialist's stock is now up more than 200% year to date.
High-profile AI stocks have frequently traded in tandem with each other this year. When one company posts better-than-expected earnings results or secures a major new contract or partnership, that has often been enough to power substantial gains for other players in the space. On the heels of Broadcom's better-than-expected quarterly results, Super Micro Computer stock appears to be benefiting from that dynamic.
Source Fool.com
Broadcom Ltd. Stock
The stock is an absolute favorite of our community with 83 Buy predictions and no Sell predictions.
As a result the target price of 387 € shows a slightly positive potential of 15.01% compared to the current price of 336.5 € for Broadcom Ltd..
