10 AI Stocks That Will Skyrocket

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1. Super Micro Computer, Inc. (NASDAQ:SMCI)

Street High Upside as of December 3, 2024: 138%

Number of Hedge Fund Holders: 33

Super Micro Computer, Inc. (NASDAQ:SMCI) is an information technology company based in California, United States. The company provides computing, storage, networking, and green computing technology solutions. It specializes in developing enterprise, cloud, AI, Metaverse, and 5G Telco/Edge infrastructure.

With operations in more than 100 countries, Super Micro Computer, Inc. (NASDAQ:SMCI) ranks first on our list of AI stocks expected to skyrocket. The company is flourishing in the server segment, having launched high-performance Intel-based servers for AI, Cloud, and Edge earlier this quarter. Previously in June, Super Micro Computer, Inc. (NASDAQ:SMCI) established 3 new manufacturing facilities in Silicon Valley and globally to support the growing demand for AI and Enterprise solutions.

On October 15, the company launched a new optimized storage solution for high-performance AI training, inference, and HPC workloads. To expand its position in the industry, on November 18, Super Micro Computer, Inc. (NASDAQ:SMCI) introduced its highest-performing SuperCluster, a complete AI data center solution that will greatly increase GPU compute density. The importance of SMCI is growing in the AI industry, which explains why analysts are bullish on the stock. Their Street high price target of $100 represents an upside of 138% from current levels.

While we acknowledge the potential of SMCI to grow, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SMCI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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