This AI Stock Jumped 163% This Year, and Wall Street Thinks It Can Rise Another 50%. Is That Realistic?
Investors in leading cloud and semiconductor stocks have probably seen big gains this year, as the artificial-intelligence (AI) revolution sparked by the introduction of ChatGPT last November began translating into blockbuster revenue and profit gains for well-positioned companies this spring.
While many have homed in on GPU leader Nvidia (NASDAQ: NVDA), cloud giant , or more speculative software bets like C3.ai, one company in the less well-regarded server market has also been a huge winner.
Super Micro Computer (NASDAQ: SMCI) has carved out a very attractive niche for itself within the AI industry, and the stock has climbed 163% in 2023. But what's even more impressive is that unlike some other tech stocks that were down in 2022, Super Micro is achieving these gains after rising nearly 87% last year -- and remember, that was in a year in which the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell more than 30%!
Source Fool.com