Shares of Super Micro Computer rallied 15% on Monday. The beleaguered data center technology company is back, an analyst said.
After scoring a record rally last week, the server maker's stock was rallying toward a third straight double-digit percentage gain for the first time ever.
Super Micro Computer Inc. SMCI is giving traders a rollercoaster they can't resist. The server maker, famous for its AI systems powering Nvidia Corp's NVDA chips, saw its stock skyrocket 65% in a single week.
Super Micro Computer (SMCI) shares gained ground in premarket trading on Monday after rising nearly 80% last week, as the embattled server maker rebounded from a turbulent stretch.
Super Micro Computer NASDAQ: SMCI helped mitigate market fear by announcing the appointment of its new auditor and putting a bottom in its stock price decline. BDO USA is part of a global franchise among the world's top five accounting firms, so its approval will carry weight.
The server maker unveiled a plan to avoid being delisted from the Nasdaq last week, helping its shares to log their best-ever five-day stretch.
When I think about stocks with millionaire-maker potential, I typically envision fast-growing companies with small valuations -- two characteristics Super Micro Computer (SMCI 11.62%) has in spades. However, the data center hardware maker is cheap for a reason.
Super Micro Computer (SMCI 11.62%) has taken investors on quite the roller coaster ride in 2024. It started the year at around $28 per share, then rocketed up to nearly $120 in March.
Super Micro Computer (SMCI 11.62%) shareholders have been through a whirlwind lately. While the stock is up 1,480% in the last two years, it has also fallen over 70% from its record high in the last eight months.
It's been a roller-coaster ride for Super Micro Computer's (SMCI 11.62%) stock this year, with a lot of big moves in both directions. After a hot start to the year, the company's shares began to slide following a short report from Hindenburg Research that accused the company of accounting manipulation.
NVDA continues to regard SMCI as a key partner during the ongoing data center capex boom, with it signaling further excellence in its future sales. SMCI's ability to onboard a new auditor implies a potential reversal, as similarly observed in the stock's near doubling from the mid November 2024 bottom. These developments suggest that SMCI's FQ1'25 Business Update numbers may be reliable to a large extent, lending strength to its high growth investment thesis.
Super Micro Computer (SMCI) shares surged 12% Friday to cap off a wild week that saw the stock add nearly 80%.