"Analysts Predict Continued AI Momentum for Super Micro Computer Despite Stock Fall"
Super Micro Computer (SMCI) shares fell over 13% despite a year-to-date rise of over 220%, driven by increasing demand for its high-performance rack servers due to the surge in new artificial intelligence (AI) applications. Analysts expect the AI momentum to continue, with Bank of America initiating the stock with a Buy rating and a price target of $1,040, while Wells Fargo was more neutral, initiating the company with an Equal Weight rating and a $960 price target, expressing belief that the shares are already factoring in substantial upside.