Were Investors Getting Too Greedy With AI Stock Super Micro Computer Today?
High-end tech component manufacturer Super Micro Computer (NASDAQ: SMCI) was a superstar stock for many investors on Tuesday.
As the influential Consumer Electronics Show in Las Vegas kicked off, Super Micro saw a boost not only from that, but from a positive analyst note on other stocks associated with artificial intelligence (AI). This raises the question, however, of whether Super Micro was deserving of the 7%-plus lift its stock price enjoyed as a result.
The note, from Oppenheimer's Rick Schafer, reiterated that company's buy recommendation on star graphics card maker Nvidia. Schafer also lifted his price target for not only Nvidia, but also for fellow AI-flavored stocks Marvell Technology, Monolithic Power Systems, and . The four comprise the analyst's top AI picks for 2024.
Source Fool.com