Posted 2/16/2024, 10:37:59 PM
Super Micro Stock Drops 20% on Cautious Wells Fargo Outlook Despite Strong AI Server Demand
- Super Micro Computer (SMCI) stock dropped 20% during trading today due to a neutral analyst rating from Wells Fargo
- The analyst believes SMCI will continue benefiting from AI server demand, but set a $960 price target below current levels
- SMCI has been pushed into speculative territory lately despite strong growth and demand forecasts
- The analyst raised concerns about the stock being valued too high relative to potential 2025 financial performance
- Today's sell-off could present a buying opportunity for investors willing to withstand volatility