From Nasdaq:

Super Micro Computer, Inc. (SMCI) is set to join the S&P 500 Index, replacing Whirlpool. The stock price has soared by more than 200% in 2024 alone, reaching a market cap of $60 billion. This move is expected to attract new investors and drive further growth for the company.

Super Micro has seen significant success in the artificial intelligence (AI) sector, doubling its revenue to $3.66 billion in the last quarter. Analysts project sales will triple this quarter. With strategic partnerships and tailored solutions, Super Micro is positioned to capitalize on the AI boom.

Wall Street is bullish on Super Micro, with an average brokerage recommendation of 1.89 and a price target of $717.38. The stock has a Zacks Rank #1 (Strong Buy) and positive earnings estimate revisions. It belongs to a top-ranked industry, indicating a favorable outlook for investors.



Read more at Nasdaq: Super Micro to Join S&P 500, Shares Rally: ETFs to Buy