Super Micro joining S&P 500 after stock price soars more than 20-fold in two years

David
Paul
Morris
|
Bloomberg
|
Getty
Images

Super
Micro
Computer
is
joining
the
S&P
500
following
a
historic
rally
in
the
stock
that
has
pushed
the
company’s
market
cap
past
$50
billion.

The
shares,
up
more
than
20-fold
in
the
past
two
years
and
over
200%
just
since
the
start
of
2024,
climbed
another
8%
in
extended
trading
on
Friday.

Super
Micro
is
replacing

Whirlpool,
according
to
a
press
release.

Deckers
Outdoor
is
also
joining
the
S&P
500,
replacing

Zions
Bancorporation.

Stocks
added
to
the
benchmark
index
often
rise
in
value
because
funds
that
track
the
S&P
500
will
add
it
to
their
portfolios.
The
median
market
cap
for
companies
in
the
S&P
500
is
$33.7
billion.

Super
Micro
has
been
one
of
the
main
beneficiaries
of
the
artificial
intelligence
boom
sweeping
the
technology
industry.
The
company
makes
servers
and
other
computer
infrastructure,
and
it’s
one
of
the
primary
vendors
for
building
out

Nvidia-based
“clusters”
of
servers
for
training
and
deploying
AI
models.

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

“We
see
Nvidia’s
results
as
a
positive
data
point
for
SMCI
which
is
one
of
the
leading
partners
that
designs
and
manufactures
servers
to
wrap
around
the
GPUs
and
customizes
racks
to
the
specific
needs
of
a
customer,”
Bank
of
America
analyst
Ruplu
Bhattacharya
wrote
in
a
note
last
month.
He
has
a
buy
rating
on
the
stock.