Super Micro Computer Stock Is Rising Again Today. Is It Still a Good Buy?
The momentum driving Super Micro Computer's (NASDAQ: SMCI) sharp rise is continuing Wednesday. Supermicro shares rose as much as 7% in morning trading and were still about 4% higher by mid-afternoon. Those gains came in the wake of an earnings report from cybersecurity leader that impressed Wall Street and strengthened the notion that demand for computing power is continuing to increase.
The stock has delivered a remarkable 300% jump year to date, and Supermicro and its insiders are taking advantage. Other investors may want to do the same.
Supermicro stock has been moving higher for good reason. Its artificial intelligence (AI) server products are in high demand as AI technologies transform how businesses operate. Sales more than doubled year over year in the most recently reported quarter, and the company sees that growth continuing.
Source Fool.com
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