Midday movers: Cisco slips; SoundHound AI, Super Micro rise
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- Wall Street ends down as expectations of Hormuz deal fade
- JPMorgan lifts S&P 500 target to 8,000 on strong earnings
- Nvidia and Wall Street giants plan $500B AI funding deal, FT reports
- Jefferies cuts Apple rating as higher-priced iPhone roadmap looks difficult
- Oil climbs 5% as Iran, US both demand compensation and Hormuz hopes fade
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Super Micro Computer (SMCI) shares fall, but analysts expect the AI momentum to continue
February 16, 2024 12:16 PM ESTSuper Micro Computer (NASDAQ: SMCI) shares tumbled more than 13% Friday, but the AI momentum for the stock, which has risen more than 220% so far this year, is expected to continue.
The incredible run higher has been fueled by surging demand for the server company's high-performance rack servers as a result of the rise in new artificial... More
Super Micro Computer (SMCI) already discounting solid upside - Wells Fargo
February 16, 2024 8:45 AM ESTWells Fargo initiated coverage of Super Micro Computer (NASDAQ: SMCI) with an Equal Weight rating and a $960 per share price target on Friday.
Analyst Aaron Rakers said they believe the AI momentum will continue, but the stock is already discounting solid upside.
"SMCI's AI-fueled fundamental... More
Nvidia continues to rise but fund manager says don't overpay to capture the momentum
February 15, 2024 9:50 AM ESTThe rally in artificial intelligence chip stocks has seen investors continue to flock to names such as AMD (NASDAQ: AMD), Arm Holdings (NASDAQ: ARM), and especially NVIDIA (NASDAQ: NVDA).
For Nvidia, the rise... More
Northland Says NVIDIA's investment in SoundHound AI (SOUN) is logical
February 15, 2024 9:44 AM ESTNorthland Capital Markets analyst Michael Latimore reiterated an Outperform rating and $4.00 price target on SoundHound AI Inc. (NASDAQ: SOUN).
The analyst stated, "Last night NVIDIA (NVDA, NR) filed a 13F, showing a 1.7 million share investment in SOUN. SoundHound AI has comprehensive and deep... More
