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Super Micro is expected to report earnings on April 30.
Nvidia and Intel are both set to launch new AI chips this year, and that could boost their earnings. Another company will benefit from this -- as well as from its own growth.
Super Micro Computer Inc.'s stock is headed for its worst day in two months after the company announced an earnings date — but no early results to go with it.
The latest trading day saw Super Micro Computer (SMCI) settling at $960.08, representing a -1.66% change from its previous close.
That's what Loop Capital's $1,500 price target on shares of Super Micro Computer Inc. SMCI, +0.03% implies. That new target, which came out Tuesday morning and is up from $600 previously, suggests more than 50% upside for Super Micro's stock relative to recent levels.
The stock market has been turbulent lately, facing challenges like geopolitical tensions, the underperformance of key players, and the possibility of no interest rate cuts this year, according to FED chair Jerome Powell.
Super Micro is a direct beneficiary of AI-driven hardware demand. Its market cap likely influences the company's role as a "millionaire maker.
Despite a rather flat trading day thus far, Super Micro Computer (NASDAQ: SMCI ) is certainly bucking the trend. Shares of SMCI stock are up over 5% in early afternoon trading as investors pile once again into this server storage company.
1 Wall Street Analyst Thinks Super Micro Computer Stock Is Going to $1,500. Is It a Buy Around $883?
Loop Capital sees Super Micro stock nearly doubling as revenue soars over the next few years. A price-to-earnings ratio as high as 30 may be sustainable for the fast-growing server manufacturer.
Recently, Zacks.com users have been paying close attention to Super Micro (SMCI). This makes it worthwhile to examine what the stock has in store.