'More Than Just An Offshoot Of Nvidia': Jim Cramer Throws His Support Behind Super Micro Computer

Jim Cramer, a renowned market analyst from CNBC, recently identified Super Micro Computer (NASDAQ:SMCI) as a pivotal player in the tech infrastructure industry.

What Happened: On Tuesday, Cramer praised Super Micro Computer, describing the company as more than just a subsidiary of Nvidia, CNBC reported. He referred to it as a “pick and shovel story” for the cloud and artificial intelligence (AI) sectors.

“It is more than just an offshoot of Nvidia,” he said.

Cramer emphasized that Super Micro Computer’s role in the tech infrastructure landscape extends beyond its association with Nvidia. He highlighted the company’s importance in the development and growth of cloud and AI technologies.

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Why It Matters: Recently, 15 analysts have shared their insights on Super Micro Computer, expressing a variety of opinions ranging from bullish to bearish. The average 12-month price target for the company is $868.87, reflecting a 53.24% increase from the previous average price target of $567.00.

Additionally, JP Morgan initiated coverage on Super Micro Computer with an Overweight and a price target of $1,150 on Monday. The company is leading the AI computing market, with demand stemming from training AI models, Retrieval- Augmented Generation by Tier 2 CSPs and Enterprises, and eventually, AI inferencing workloads, as per the analyst.

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