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We recently published a list of These 10 Firms Blowing Up by Double Digits Today. In this article, we are going to take a look at where Super Micro Computer, Inc. (NASDAQ:SMCI) stands against other firms blowing up by double digits today.
Ten individual stocks soared by double digits on Wednesday, outperforming a lackluster performance among Wall Street’s indices, thanks to the 90-day truce between the US and China that continued to boost investor confidence.
In contrast, Wall Street’s indices were mixed, with the tech-heavy Nasdaq growing 0.72 percent, followed by the S&P 500, up 0.10 percent. The Dow Jones declined by 0.21 percent.
In this article, we name Wednesday’s 10 best-performing stocks and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
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Super Micro Computer, Inc. (NASDAQ:SMCI)
Super Micro Computer extended its rally for a third consecutive day on Wednesday, jumping 15.71 percent to close at $45 apiece as investors resumed buying following an analyst’s bullish outlook for the company.
Earlier this week, Raymond James said it initiated coverage of Super Micro Computer, Inc. (NASDAQ:SMCI) and gave the latter an “outperform” rating with a price target of $41, an upside of 5.42 percent from the company’s latest closing price.
According to the investment firm, Super Micro Computer, Inc. (NASDAQ:SMCI) carved out a solid spot in the AI race, with a 9 percent market share in a $145-billion market.
In the third quarter ending March 31, 2025, Super Micro Computer, Inc. (NASDAQ:SMCI) recorded a 73-percent drop in net income at $108 million versus $402 million in the same period last year.
Net sales, however, increased by 19 percent to $4.599 billion from $3.850 billion year-on-year.
Overall, SMCI ranks 3rd on our list of firms blowing up by double digits today. While we acknowledge the potential of SMCI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SMCI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.