With the second month of 2024 already well underway, the year has been exceptionally bullish for the stock of Super Micro Computer Inc. (NASDAQ: SMCI), but artificial intelligence (AI) algorithms are not very optimistic about its price retaining this momentum by the year’s end.
Indeed, SMCI has raced nearly 180% since January 1, recently recording its new all-time high (ATH) at over $797, but the advanced AI price forecasting algorithms have set its price at $115.96 on December 31, 2024.
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Specifically, if these projections, which rely on the historical SMCI price trends, indicators, and various chart patterns, materialize, it means that the price of the technology provider’s stock would drop by a whopping 85.35% compared to its current price, as per data on February 14.
SMCI stock price analysis
Meanwhile, SMCI stock was at press time changing hands at the price of $791.49, recording a 2.39% gain on the day, advancing 16.96% across the previous week, and accumulating an increase of 142.56% on its monthly chart, in addition to racing 752.16% over the last year.
![](https://assets.finbold.com/uploads/2024/02/Screenshot-2024-02-14-133148.png)
As it happens, SMCI’s price increase this year coincides with the higher-than-expected preliminary Q2 revenue results published on January 18, upon which the Super Micro shares soared 36%, with the rally continuing on a company’s board member buying over $1 million in SMCI stock.
This all has contributed to the stock’s exceptional yearly performance, during which SMCI outperformed 99% of all assets in the stock market, as well as doing better than 96% of the other stocks in the technology hardware, storage, and peripherals industry.
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Source: https://finbold.com/ai-predicts-smci-stock-price-for-end-of-2024/