What Is Making AI Company Super Micro Computers Bullish?
The stock price of Super Micro Computers shot up in response to a positive analysis, and this Ai stock has gained 300% this year.
Artificial intelligence is taking the stock markets by storm with Nvidia rallying recently, and Super Micro Computers giving a similar performance.
Super Micro Computers (SMCI) is up 0.78% today after it rallied on Wednesday to 7.2% at its peak. The stock also jumped an incredible 26% at the beginning of the week’s trading session on Monday. Immediately starting the week off with a bang helped it achieve a price of $1.143 per share from where it was at the end of trading on Friday at $905 per share.
The stock has retained much of its gains, holding now at $1,133. But what helped the stock shoot up? It had at least a little to do with Nvidia’s recent performance and the widespread attention that brought to the AI side of the stock market.
Its bullish behavior was also attributed to a positive report from an analyst on Wall Street, Jim Kelleher. He said that SMCI (which also goes by the name Supermicro) was a buy and expected it to climb to $1,350. The stock obviously shot past that mark and proved to be an even better investment than anticipated.
Supermicro is a server and computer solutions company that makes products for generative artificial intelligence. The company’s products have a number of applications in the AI industry, some of which can be used for computer deep learning so that AI programs can become even more advanced and human-like.
Room for Growth
Analysts expect several years of strong growth for Supermicro, anticipating that the artificial intelligence niche will expand in the coming years and infiltrate more job markets.
Several analysts are bullish on this stock, and they predict growth by as much as 75% compounded annually for the next few years. This stock grew 300% this year so far, so anything is possible at this point. Traders should not expect this stock to remain at this price for long and may want to jump on board soon to make the most of their investment.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals