1 Wall Street Analyst Thinks Super Micro Computer Stock Is Going to $1,000. Is It a Buy?
Super Micro Computer (NASDAQ: SMCI), commonly called Supermicro, has been one of the biggest beneficiaries of the artificial intelligence (AI) revolution. Heading into the company's earnings report, the stock had gained more than 700% over the preceding year, so expectations were high.
Despite stellar results, investors wanted more, and the stock slumped 14% in a single day. One analyst thinks the selling has simply gone too far.
In the wake of its drubbing earlier this week, analyst George Wang raised his price target on Supermicro to $1,000 while maintaining an overweight (buy) rating on the shares. That represents potential upside of 31% compared to the stock's closing price on Thursday. The analyst cited Supermicro's robust results and strong guidance as fueling his optimism.
Source Fool.com
