The S&P 500 ( ^GSPC 0.80% ) advanced 25% over the past year, and excitement about artificial intelligence (AI) was a major source of momentum. Indeed, AI chipmaker Nvidia alone was responsible for 18% of those gains, according to Morningstar .
That staggering statistic notwithstanding, there are plenty of opportunities beyond Nvidia. For instance, the following Wall Street analysts see significant upside in Super Micro Computer ( SMCI -5.25% ) and Snowflake ( SNOW -3.
38% ) , two companies well position to monetize AI. Loop Capital analyst Ananda Baruah has set Super Micro Computer with a price target of $1,500 per share, implying 91% upside from its current price of $784 per share. Morgan Stanley analysts led by Keith Weiss have set Snowflake with a bull-case price target of $345 per share, implying 154% upside from its current price of $136 per share.
Investors should never put too much confidence in price targets, but Supermicro and Snowflake certainly warrant further consideration. Here are the important details. 1.
Super Micro Computer Super Micro Computer designs and manufactures computing platforms for enterprise and cloud data centers. Its products include high-performance servers and storage solutions optimized for artificial intelligence (AI) applications. In fact, Supermicro is the leading manufacturer of AI servers, due in part to its in-house design capabilities and building-block development strategy.
To elaborate, because Supermicro can quickly equip its platfor.