Super Micro Computer Jumped Again Today -- Is It Time to Buy the Artificial Intelligence (AI) Stock Hand Over Fist?
Super Micro Computer (NASDAQ: SMCI) stock climbed again Monday. The company's share price closed out the daily trading session up 4.4%, according to data from S&P Global Market Intelligence. Earlier in the session, it had been up as much as 9.4%.
Before the market opened this morning, Northland Capital Markets published a bullish update on Super Micro. Analyst Nehal Chokshi's note maintained an "outperform" rating on the stock and raised the firm's one-year price target from $625 per share to $925 per share. Based on the server specialist's stock price of roughly $773 per share at today's market close, hitting Chokshi's target would imply upside of approximately 20% over the next 12 months.
Super Micro Computer is a provider of high-performance servers and storage solutions. In conjunction with the rise of artificial intelligence (AI), the business has seen demand for its technologies soar.
Source Fool.com
