Shares in Super Micro Computer (SMCI) will remain on watchlists Monday after the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) server maker's stock popped 12.5% in extended-hours trading Friday following 澳洲幸运5官方开奖结果体彩网:an announcement tha🐻t it will be included in the large-cap 澳洲幸运5官方开奖结果体彩网:S&P 500 Index.

The San Jose, California company, whose stock price has more than tripled since the start of the year, has seen its 澳洲幸运5官方开奖结果体彩网:market capitalization surge to more than $50 billion amid an AI-fueled buying frenzy. Super Micro and Deckers Outdoor Corp. (DECK) will nudge out whitegoods maker Whirlpool (WHR) and regional bank Zion Bancorporation (ZION) from the blue-chip index, with the changes taking effect before the start of trading on March 18, according to S&P Global. Stocks added to the S&P 500 typically gain in value as 澳洲幸运5官方开奖结果体彩网:exchange-traded funds (ETFs) and mutual funds that track the 澳洲幸运5官方开奖结果体彩网:benchmark index add the new inclusions to their portfolios.

Super Micro’s servers and hardware infrastructure solutions facilitate training and deployment of AI models by allowing data center operators to economically deploy AI accelerators, positioning the company to capitalize on the technology’s widespread adoption.

Moreover, the company has backed up the AI narrative with financial results. In its latest quarter, the hardware manufacturer saw its net sales more than double from the prior year and increase 73% on a sequential basis. Super Micro also lifted its revenue outlook for the 2024 fiscal full year to between $14.3 billion and $14.7 billion, up from its earlier forecast of $10 billion to $11 billion, indicating the company's future growth potential.

Micro Computer shares have remained in a steady uptrend since the 澳洲幸运5官方开奖结果体彩网:50-week moving average crossed above the 200-week moving average in May 2020 to generate a 澳洲幸运5官方开奖结果体彩网:golden cross buy signal. 🦹Impressively, the few retracements the stock had in 2023 didn’t manage to reach the 50-week moving average, highlighting the uptrend’s strong moꦡmentum. 

More recently, gains have accelerated on above-average volume after the price broke above a period of four-month consolidation in the form of an 澳洲幸运5官方开奖结果体彩网:ascending triangle—a chart pattern that suggests a continuation of the current longer-term trend. If the stock sees a wave of 澳洲幸运5官方开奖结果体彩网:profit taking, monitor the $300 to $350 level where a pullback may find support from the triangle’s top 澳洲幸运5官方开奖结果体彩网:trendline and rising 50-week moving average.

Super Micro shares gained 12.5% to $1,019 in after-hours trading on Friday. The stock had gained 4.5% during regular trading hours, before news o♈f the S&P 500 inclusion was announ🔯ced.

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