Super Micro Enjoys AI Momentum Heading Into Q2 Earnings: Can It Overcome Bearish Trends?
Portfolio Pulse from Surbhi Jain
Super Micro Computer Inc (NASDAQ:SMCI) is set to report its Q4 earnings with Wall Street expecting $8.10 EPS and $5.29 billion in revenues. Despite a strong yearly performance driven by AI momentum, the stock is currently exhibiting bearish trends, trading below key moving averages. However, buying pressure and an oversold RSI suggest a potential bullish reversal. Analysts maintain a Buy rating with a price target of $999.92, indicating over 10% upside.
August 06, 2024 | 1:52 pm
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POSITIVE IMPACT
Super Micro Computer Inc (SMCI) is set to report Q4 earnings with expectations of $8.10 EPS and $5.29 billion in revenues. Despite a strong yearly performance, the stock is currently bearish, trading below key moving averages. However, buying pressure and an oversold RSI suggest a potential bullish reversal. Analysts maintain a Buy rating with a price target of $999.92, indicating over 10% upside.
The stock is currently bearish, trading below key moving averages, but buying pressure and an oversold RSI suggest a potential bullish reversal. Analysts' Buy rating and price target indicate confidence in future performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Nvidia Corp (NVDA) has gained 102.84% year-to-date, slightly underperforming Super Micro Computer (SMCI) which has gained 114.18%.
Nvidia's performance is mentioned for comparison, indicating its strong performance in the AI sector, but the primary focus is on SMCI.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20