Why Super Micro Computer Rocketed Higher Today
Shares of Super Micro Computer (NASDAQ: SMCI) were rallying on Thursday, up a whopping 7.5% on the day as of 2:35 p.m. ET.
Unlike many other beaten-down stocks that are rallying today, Super Micro had already appreciated mightily in 2023, up a whopping 233% on the year. Still, the stock remains about 25% below its early August highs. So the prospects of lower interest rates and an economic "soft landing" appear to be spurring a "risk on" mentality in cyclical stocks, such as financials, industrials, and, in the case of Super Micro, technology hardware.
In addition, Super Micro issued a press release today highlighting new availability of servers built with the new (NASDAQ: INTC) fifth-generation Xeon server processor, perhaps incrementally increasing excitement for this AI stock.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 28 Buy predictions and 15 Sell predictions.
Based on the current price of 16.92 € the target price of 38 € shows a potential of 124.59% for Intel Corp. which would more than double the current price.
