5 Best Booming Stocks to Buy Right Now

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1. Super Micro Computer Inc (NASDAQ:SMCI)

Number of Hedge Fund Investors: 40

Super Micro Computer Inc (NASDAQ:SMCI) shares have gained about 170% year to date in 2024.

Bank of America recently started covering the stock and said AI is causing a “meaningful shift” in the market.

“We think this provider of server and storage solutions will be a beneficiary of AI-driven demand growth (>50% of revenues now tied to accelerators like GPUs. We believe the market for AI servers is much larger than is factored in Street models,” BofA analysts led by Ruplu Bhattacharya said in a note.

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