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in stock super microcomputer (NASDAQ:SMCI) It is up in Thursday trading. The stock was up 5.9% as of 12:30 p.m. ET today, according to data from S&P Global Market Intelligence.
Super Micro is gaining momentum today thanks to some bullish news. Nvidia. In addition to the positive coverage of the chipmaker by analysts, it was also announced that a new partner has joined his Nvidia machine vision platform.
Nvidia makes Super Micro even better
Nvidia stock price movements often have ripple effects on other companies in the artificial intelligence (AI) space. Shares of the graphics processing unit (GPU) leader were up 1.7% as of 12:30 p.m. today, with the bullish momentum lifting Supermicro and other high-profile AI stocks. Ta.
In a research note yesterday, Tigress Financial’s Ivan Feinseth said the analyst maintained a buy rating on NVIDIA and raised his one-year price target from $790 to $985 per share.and rail vision announced it will join Nvidia’s Metropolis machine vision platform to improve the safety and efficiency of rail travel.
What’s next for supermicrocomputer stocks?
At least in the short term, Supermicro stocks are likely to continue moving in line with Nvidia’s shift. Super Micro uses his Nvidia GPUs in high-performance rack servers.
Supermicro’s long-term stock price performance is determined primarily by its own performance. The good news for investors is that the company has performed well and looks poised to benefit from sustained demand tailwinds.
If Supermicro reaches the midpoint of management’s guidance target of about $14.5 billion in sales this year, sales will likely increase about 104% annually, with rapid expansion likely to continue from there.
Should you invest $1,000 in a super micro computer right now?
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Keith Noonan has no position in any stocks mentioned. The Motley Fool has a position in and recommends Nvidia. The Motley Fool recommends Super Micro Computers. The Motley Fool has a disclosure policy.
The original article on Why Super Microcomputer Stocks are Soaring Today was published by The Motley Fool
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