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Super Micro Computer Inc. was the best-performing stock in the S&P 500 Monday after JPMorgan initiated coverage of the stock with an "overweight" rating, citing the company’s leading position in the fast-growing artificial intelligence (AI) server market.
JP Morgan initiates coverage on Super Micro Computer Inc (SMCI) with an Overweight rating and $1,150 price target. Analyst expects continued leadership in AI computing market and projects $40 billion revenue opportunity by 2028. SMCI stock up 9.49%.
The AI-centric server maker is getting a lot of love from Wall Street.
Despite trading at a premium, some AI stocks remain attractive, according to JPMorgan.
Dell Technologies Inc. (NYSE: DELL) is expected to release earnings results for its fourth quarter, after the closing bell on Feb. 29, 2024.