Company Super Microcomputer entered the S&P 500 after the stock’s historic 20-fold rise over the past two years, raising the company’s market capitalization to more than $50 billion.

Super Micro Computer enters S&P 500 after shares rise 20-fold

Since the beginning of 2024 alone, the server company’s shares have risen 200%, rising another 8% in extended trading last Friday, CNBC writes.

Experts believe the rally will continue because stocks added to the benchmark index often increase in value further as funds that track the S&P 500 add them to their portfolios. The average market capitalization of S&P 500 companies is $33.7 billion.

Super Micro has been one of the main beneficiaries of the artificial intelligence boom that is sweeping the technology industry. The company produces servers and other computing infrastructure and is a leading supplier of Nvidia server clusters. to train and deploy artificial intelligence models.

For the quarter ended in December, Super Micro’s revenue doubled to $3.66 billion. Analysts expect sales to triple in the current quarter.

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Author:

Ekaterina Alipova

Source: RB

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Emma
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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