Posted 3/4/2024, 5:49:00 AM
Super Micro Computer Stock Soars 63% in February on Strong Earnings and AI Server Demand, Despite Volatility
- Super Micro Computer (SMCI) stock jumped 63% in February due to strong earnings report in late January and demand for AI servers
- The company benefits from the growth of Nvidia, a key supplier; Nvidia's positive earnings reports further boosted SMCI stock
- Multiple analyst ratings, including a buy rating from Bank of America and SMCI's addition to the S&P 500 index contributed to the stock's rise
- However, Wells Fargo's "equal weight" rating briefly brought the stock down
- Demand for AI servers is expected to continue driving SMCI's growth, although the stock remains volatile