Super Micro Computer Stock Surges to Record Highs

The AI-related company announced a stellar forecast alongside strong results

Deputy Editor
Jan 30, 2024 at 3:17 PM
facebook X logo linkedin


Super Micro Computer Inc (NASDAQ:SMCI) stock is jumping to record highs today, after the company's stellar fourth-quarter results and full-year forecast exceeded analyst estimates. The artificial intelligence (AI) server maker's surge is lifting other AI-related stocks as well, including Nvidia (NVDA). 

Jumping above recent pressure at the $500 level to never-before-seen levels, SMCI hit $554.44 at today's peak. The stock has since pared those gains, though still up 4.1% at $516.00 at last glance. Super Micro Computer stock has been booming since last January, up 612.9%. Since the start of this year, the shares are already up 81%. 

SMCI Jan30

Over in the options pits, SMCI has already seen 2.6 times the average daily options volume. Calls are winning out, with 137,000 exchanged in comparison to 85,000 puts. Expiring at the end of this week, the weekly 2/2 600-strike call is the most popular contract, with new positions being sold to open here. 

Alongside the booming stock, short interest has been building, and now represents 10.8% of the stock's available float. However, its worth noting that the stock's 14-day relative strength index (RSI) of 87 sits firmly in "overbought" territory, meaning the equity may be overdue for some corrective movement on the charts, especially after its recent outperformance.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI