Super Micro to join S&P 500 after stock price rises more than twentyfold in two years

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David Paul Morris | Bloomberg | getty images

super micro computer The stock is joining the S&P 500 after a historic rally that has pushed the company’s market cap past $50 billion.

Shares, up more than twenty-fold in the past two years and up more than 200% since the start of 2024, rose another 8% in extended trading on Friday.

super micro is replacing WhirlpoolAccording to a press release. decker outdoor Also joining the S&P 500, replacing the Zions Bancorporation,

Stocks added to the benchmark index often increase in value as funds that track the S&P 500 will add it to their portfolios. The average market capitalization of the companies in the S&P 500 is $33.7 billion.

Super Micro has been one of the main beneficiaries of the widespread artificial intelligence boom in the technology industry. The company makes servers and other computer infrastructure, and is one of the primary vendors for manufacturing NVIDIABased “clusters” of servers for training and deploying AI models.

Super Micro’s revenue more than doubled to $3.66 billion in the quarter ended December. Analysts expect sales to more than triple in the current quarter.

Bank of America analyst Rooplu Bhattacharya wrote in an article, “We view Nvidia’s results as a positive data point for SMCI, which designs and builds servers to wrap around GPUs and integrate with a customer’s specific needs.” Adapts rack to needs.” Last month’s note. He has given a buy rating on the stock.

Watch: Super Micro is absolutely a meme stock