The Wall Street firm hiked its price target after Super Micro Computer issued rosy guidance in its latest results.
It's time to buy Super Micro Computer after its latest earnings results on the strength of its artificial intelligence outlook, according to Loop. Analyst Ananda Baruah hiked his price target to $150 from $100. The new price target implies shares can jump 43% from Tuesday's closing price of $104.43. Shares gained 28% on Wednesday, and they're up 63% in 2023. The price target hike comes after Super Micro Computer reported results from its latest quarter.
mountain Super Micro Computer shares 1-day "With applications like ChatGPT, that heavily count on large language model LLM and generative AI, the state of AI infrastructure business has grown rapidly," CEO Charles Liang said Tuesday during the earnings call. "This AI moment has benefited Supermicro greatly, as we are deploying many orders leading and large-scale GPU clusters," Liang added. Investors were encouraged by the rosy outlook.
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