Super Micro Computer Inc (NASDAQ:SMCI) has emerged as a top pick in the artificial intelligence (AI) hardware sector, overshadowing industry giant NVIDIA Corp (NASDAQ:NVDA), according to veteran investor Louis Navellier.
What Happened: Navellier, the founder and chairman of Navellier & Associates, has been a long-time investor in Super Micro Computer. He recently expressed his enthusiasm for the company’s performance, telling CNBC’s “Street Signs Asia” that Super Micro Computer is currently outshining Nvidia in the AI hardware market.
"Super Micro is hotter than Nvidia. And the reason they're hotter is they got it higher – they beat their guidance. And it's not in the S&P 500 right now. They'll probably be added," Navellier said.
Super Micro Computer, a Nasdaq-listed company specializing in AI systems and graphics processing unit servers, has seen its shares soar by over 200% this year, while Nvidia’s shares have risen by 59%.
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Navellier advises investors interested in the AI trend to consider hardware stocks, with Super Micro Computer and Nvidia being the dominant players. He also believes that Super Micro Computer’s ...