Super Micro Computer Seen Grabbing AI Server Market Share
Investors.com, Tuesday, September 19,2023
Super Micro Computer (SMCI) is well positioned to capitalize on the boom in spending on data-center hardware to support artificial intelligence applications, a Wall Street analyst said Tuesday.
Barclays analyst George Wang initiated coverage of SMCI stock with an overweight, or buy, rating and a price target of 327.
On the stock market today, SMCI stock climbed 1.4% to close at 247.74. Super Micro stock hit its all-time high of 357 on Aug. 7 ahead of its fiscal fourth-quarter results.
But SMCI stock crashed 23.4% on Aug. 9, the first trading session after its fiscal Q4 report. The San Jose, Calif.-based server maker beat Wall Street's sales and earnings targets for the quarter ended June 30, but disappointed with its sales guidance.