18.06.2024 02:15:00

Is Super Micro Computer Stock a Buy Now?

Shares of Super Micro Computer (NASDAQ: SMCI) have gone on a roller coaster ride so far this year. The AI server manufacturer's stock racked up gains of more than 300% in less than three months at the beginning of 2024, but it's down 29% since hitting an all-time high in the first half of March.But now, Supermicro stock seems to be gaining momentum once again as it rose more than 12% on June 13. This surge was driven by the latest earnings reports from major artificial intelligence (AI) players such as Broadcom and Oracle. While Broadcom raised its forecast for AI chip sales for the current fiscal year, Oracle pointed out that it is building more cloud computing capacity to cater to the massive demand it's seeing.These developments bode well for Supermicro, whose AI servers are used for mounting chips used for training and deploying AI models in data centers. However, the stock's latest surge means it has nearly tripled in 2024 already. So is it too late for investors to buy Supermicro stock? Let's find out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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