Super Micro Computer Stock Explodes
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Super Micro Computer (NASDAQ:SMCI) just got two fresh price target hikes from Wall Street heavyweights, and yet neither firm is willing to call it a Buy. Citi lifted its price target on SMCI stock to $31 from $25 while keeping a Neutral rating,
Super Micro Computer reported decent earnings for Q3, but shares collapsed 16% after earnings due to profit taking. The company beat bottom line expectations but missed on revenues. Revenue grew 200% Y/Y due to strong demand for AI chips and servers.
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SMCI stock on track for best single-day gains in 15 months as margins pump up Wall Street and Main Street
Analysts at Citi raised their price target for SMCI stock to $31 from $25, while keeping a ‘Neutral’ rating. ・The firm cited Super Micro’s margin surge as the reason for its price target hike, noting that it also drove an earnings beat.
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My last coverage on Super Micro Computer, Inc. (SMCI) was published on July 18 with an article titled “Super Micro Computer: Liquid Cooling Can Become Commoditized (Rating Downgrade).” The article rated the stock as a hold due to my concern about the ...