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Barchart
Barchart
Sushree Mohanty

Up 750% in the Last Year, Can This Growth Stock Go Any Higher?

SMCI Super Micro Computer Aaron Rakers Nvidia AMD Bank of America Intel Corporation

Artificial intelligence (AI) has emerged as a force to be reckoned with on Wall Street, influencing nearly every industry. The technology sector, in particular, is experiencing explosive expansion. While chip demand is on the rise, making Nvidia (NVDA) the market darling ahead of tonight's closely watched earnings release, Super Micro Computer (SMCI) is meeting the demand for efficient computing solutions.

SMCI’s stock price gain of 750% in just 1 year looks distinctly abnormal, even as the AI rush has resulted in outstanding growth for most tech stocks. It's still only the beginning of 2024, and SMCI is already up 163%, wildly outperforming the Nasdaq Composite's ($NASX) 5.4% gain. 

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