XMMO - Super Micro's Earnings Skyrocket with AI Demand: Analyst Highlights Growth Trajectory | Benzinga
Argus Research analyst Jim Kelleher initiated coverage on Super Micro Computer, Inc (NASDAQ:SMCI) with a Buy rating and a price target of $1,350. The stock price climbed after the re-rating.
As per the analyst, Super Micro is a leading computer and server provider for the age of generative AI.
In addition to a full line of rack and blade servers for cloud, enterprise, data center, and other applications, Super Micro provides GPU-based systems for deep learning, high-performance computing, and other applications.
Also Read: Super Micro Computer Joins S&P 500 Index: An ‘AI Winner At Premium Valuation,’ Analyst Says
The analyst noted that Super Micro is experiencing accelerating revenue, particularly earnings growth, as demand for its server and computing solutions expands rapidly.
He said that Super Micro has been growing earnings at an average annual rate of 53% in ...