Why Super Micro Computer Stock Rocketed to New Highs This Week
Week to date, shares of Super Micro Computer (NASDAQ: SMCI) were up 23% through Thursday's market close, according to data provided by S&P Global Market Intelligence. The demand for artificial intelligence (AI)-driven computing is driving accelerating revenue growth and profits for this leading supplier of rack-scale solutions for data centers.
Despite the stock's massive run over the last year, the company is seeing market share gains for its products and raised full-year revenue guidance.
In the company's fiscal 2023 annual report, CEO Charles Liang said the ongoing growth in AI computing could be potentially more impactful to the world than the industrial revolution over 200 years ago. His company is certainly growing like it. Earlier this week, Super Micro reported a record $3.66 billion in revenue for the fiscal second quarter ending Dec. 31, a year-over-year increase of 103%.
Source Fool.com
