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We asked ChatGPT what will be SMCI stock price end of 2024

We asked ChatGPT what will be SMCI stock price end of 2024

Its focus on artificial intelligence (AI) technology and strategic partnerships with crucial cutting-edge hardware providers, Nvidia (NASDAQ: NVDA) and Intel (NASDAQ: INTC) helped Super Micro Computer, Inc (NASDAQ: SMCI) surge in 2024 in a manner usually associated only with meme stocks, cryptocurrencies, and small-cap companies.

Having started the year at the share price of $285.45, SMCI skyrocketed in the subsequent weeks and peaked at around $1,004 on February 15, only to quickly enter into a correction.

The downtrend further strengthened in the extended session of President’s Day weekend and in the first trading day after the holiday when much of the technology sector – spearheaded by the semiconductor blue-chip giant Nvidia – closed in the red.

SMCI stock price chart

Indeed, while SMCI stock is a staggering 163.03% in the green year-to-date (YTD) and 72.11% up in the last 30 days, the more recent trend has been decisively more negative. Last week saw a fall of 8.88%, and in the first trading hours of February 21, SMCI’s shares are 4.67% in the red, and their press-time price stands at $750.82.

SMCI YTD stock price chart. Source: Google

Additionally, many investors have been concerned about the short-term prospects of the technology sector, with some believing that Nvidia’s Q4 earnings report – scheduled for the market’s close on February 21 – could make or break its performance. Due to its links with the semiconductor giant and the staggering 2024 rise, SMCI is widely expected to be one of the most affected.

ChatGPT weighs SMCI stock’s long-term prospects

Taking a step away from the most recent market turmoil, Finbold decided to consult the artificial intelligence of OpenAI’s flagship platform- ChatGPT – on how SMCI’s stock might perform by the end of 2024.

According to the AI, SMCI is likely to continue rising in the coming 10 months and find itself somewhere between $780 and $820 – 3.89% to 9.21% above the press-time price of $750.82.

ChatGPT explained it is forecasting an end to the correction and a continuation of growth – albeit at a slower pace – due to Super Micro Computer’s “solid position in the tech industry and expected demand growth in its niche” and the broader stock market and tech sector trends.

ChatGPT makes its general estimate for SMCI stock. Source: Finbold and ChatGPT

When asked to make a strong yet plausible bullish estimate, ChatGPT proved more conservative than some experts who recently placed the target for SMCI stock at $1,300 and set its sights at the range between $830 and $860 – indicating an uptrend of 14.54% at most.

ChatGPT makes is bullish estimate for SMCI stock. Source: Finbold and ChatGPT

Similarly, ChatGPT’s bearish forecast was fairly conservative as it foresaw a downside no larger than 6.77% for Super Micro Computer’s shares, placing the lower boundary of the possible range at $700.

ChatGPT makes its bearish estimate for SMCI stock. Source: Finbold and ChatGPT

The AI explained that such a large decline might occur if competition in the sector increases dramatically or if there are major issues in the supply chains relevant to SMCI’s business.

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