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SMCI stock price prediction

SMCI stock price prediction
Elmaz Sabovic

Super Micro Computer (NASDAQ: SMCI) stock has surpassed the gains of many of its peers in the semiconductor and technology sector, as SMCI shares gained an impressive 222% in 2024 alone.

These gains surpass even those from Nvidia (NASDAQ: NVDA) of 181%, as Super Micro stock continues with its gains in the most recent trading sessions, with a 3.67% gain in the past 24 hours and an impressive 16.96% added in the latest five trading sessions.

SMCI stock 5-day price chart. Source: Finbold
SMCI stock 5-day price chart. Source: Finbold

The best part is that there is still room left for gains, as analysts from Wall Street see SMCI stock above the $1,000 threshold in the upcoming months.

Technical indicators for Super Micro stock

Focusing on a shorter time frame, Finbold analyzed the current technical indicators to reveal the near-future prospects of SMCI stock price.

The Supermicro stock price showed strong intraday activity in the latest trading session, between $883.31 and $938.88. The Relative Strength Index (RSI) is at 60.56, just above neutral, indicating slightly bullish momentum. 

Technical indicators for SMCI stock. Source: Trading View
Technical indicators for SMCI stock. Source: Trading View

SMCI’s 50-day moving average is $834.15, and its 200-day moving average is $639.77. The current stock price is well above both averages, reinforcing an upward trend. 

The Supermicro stock has a support zone at $844.53, with a resistance zone identified at $926.14.

Overall, technical indicators showcase bullish momentum for SMCI, which is poised to continue in the upcoming trading sessions.

A strong gain for SMCI shares thanks to optimistic analysts

While no business-specific news drove the stock higher in the latest trading session, the tech company’s valuation rose due to an analyst’s belief that artificial intelligence (AI) will sustain strong demand for servers. 

Super Micro Computer stock, in particular, benefited from bullish coverage on Dell (NYSE: DELL) by Morgan Stanley analyst Erik Woodring, highlighting Super Micro as a leading provider of high-performance rack servers for advanced AI applications. However, investors should consider the rapidly evolving nature of AI and the associated risks before committing heavily to any hot stock in this sector.

Although Dell’s bullish coverage boosted Super Micro stock, emerging competitive dynamics should be noted. 

Some analysts believe Nvidia might design its server racks to align with the launch of its GB200 AI chip, potentially limiting growth opportunities for Super Micro and other specialized server providers.

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