SMCI - Super Micro Computer Stock Is Up 190% So Far This Year. Can the Growth Continue in the Second Half of 2024?
2024-06-30 09:00:00 ET
Super Micro Computer (NASDAQ: SMCI) has become one of the more dramatic and surprising companies in the stock market over the past year. The company existed for decades in obscurity, and its stock gained little traction for years after its 2007 initial public offering (IPO).
However, a key partnership with Nvidia has changed the game for Supermicro (as the company is commonly called). Consequently, its stock is up 190% in the first half of this year. With its massive gains, investors are right to ask whether that momentum can continue through the second half of 2024.
Supermicro is a technology hardware company known for producing energy-saving, environmentally friendly tech products for the cloud, metaverse, and other applications. Its servers have gained the most attention, particularly those equipped with Nvidia's artificial intelligence (AI) chips. Thanks to this partnership, its profits and stock price have grown exponentially.
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Super Micro Computer Stock Is Up 190% So Far This Year. Can the Growth Continue in the Second Half of 2024?