Super Micro Computer (SMCI) Shares Surge 13%
The Super Micro Computer, Inc. (SMCI) stock chart shows:
Fridays closing price rose over 13% from Thursdays close;
The stock has surged more than 80% from its February low;
Fridays close marked the highest level since late October 2024.
SMCIs rally comes despite an 11 February quarterly report that missed expectations:
EPS: $0.59 vs. expected $0.60;
Revenue: $5.65bn vs. expected $5.72bn.
Bullish sentiment is driven by (according to media reports):
A forecasted $40bn revenue for FY2026, 70% higher than projected FY2025 revenue;
Reports indicate that SMCI shares are unlikely to be delisted from NASDAQ due to financial reporting issues (which we previously discussed when analysing the SMCI stock chart on 3 December);
Investor enthusiasm for AI and rapid data centre construction to support it.
Technical Analysis of SMCI Stock
The price has reached the key psychological level of $50 per share:
Historical price action at this level has often triggered significant reversals;
A bullish cup-and-handle pattern is forming.
A higher second low suggests growing demand strength, potentially leading to a bullish breakout above $50.
SMCI Stock Price Forecast
Analysts remain cautious. According to Yahoo Finance:
Only 2 of 6 analysts recommend buying SMCI shares;
The 12-month average price target is $47.91.
Read more: https://fxopen.com/blog/en/oa-super-micro-computer-smci-shares-surge-13/
Text source: Forex Trading Blog
