What's Going On With AI Server Stock Super Micro Computer On Monday?

Super Micro Computer Inc SMCI shares are trading higher Monday after Friday’s announcement that the artificial intelligence server company will become a component of the Nasdaq-100 Equal Weighted Index.

Last Friday, Nasdaq said Super Micro will join the Nasdaq-100 Index (NDX) and the Nasdaq-100 Equal Weighted Index (NDXE) before the market opens on Monday, July 22, 2024. In both indices, Super Micro will replace Walgreens Boots Alliance Inc WBA.

Also Read: Super Micro Computer Stock Soars as AI Server Demand Boosts Market Confidence

Super Micro stock also got a boost from Wall Street expecting leading contract chipmaker Taiwan Semiconductor Manufacturing Co TSM to report a 30% growth in second-quarter profit on Thursday.

Super Micro stock gained over 201% in the last 12 months. Investors can gain exposure to the stock through SPDR S&P 500 SPY and iShares Core S&P 500 ETF IVV.

Price Action: SMCI shares were up 3.19% at $939.00 premarket at the last check Monday.

Image via Shutterstock