SMCI - 3 Reasons Super Micro Computer Could Outperform Nvidia This Year
2024-06-23 14:15:00 ET
Super Micro Computer (NASDAQ: SMCI) and Nvidia (NASDAQ: NVDA) are two of the market's hottest artificial intelligence (AI) stocks. Super Micro Computer, more commonly known as Supermicro, is a leading producer of dedicated AI servers. Nvidia is the world's largest producer of data center GPUs for processing AI tasks.
In 2023, Supermicro's stock rallied 246% as Nvidia's stock rose 239%. And since the start of 2024, Supermicro's stock has risen another 223% as Nvidia's stock has advanced 164%. Both stocks are still riding high on the buying frenzy in AI stocks , but I believe Supermicro will continue to perform Nvidia through the end of the year for three simple reasons.
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3 Reasons Super Micro Computer Could Outperform Nvidia This Year