Daily Stock Pick for September 12, 2023

The latest consumer inflation report will be out in less than 24 hours.

Odds are it’ll show the inflation slowdown continuing (high gas prices aside), which would be a positive for the market.

In fact, if it comes in much better than expected, it might actually be the start of the next big rally up.

That’s why today, I’d like to spotlight a top AI stock that’s been taking a “breather” in the recent pullback – a breather that could prove to be a solid buying opportunity.

You see, this stock is still up over 200% for the year…

With its all-time highs being back in July – NOT back in 2021 (like so many tech and AI stocks).

In short, this is an AI stock with super strong momentum that’s just taking a breather…

And if tomorrow’s inflation report comes out better than expected, it could take off big.

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Super Micro Computer, Inc. (SMCI)

SMCI makes high-performance servers for a variety of purposes, including cloud computing, big data, the Internet of Things, and of course, AI. That last part is what has driven its stock price so strongly this year – but it’s more than just fluff. 

In its latest quarterly earnings, the company revealed that over 50% of its revenues are coming from AI-related solutions. This contrasts with most of its competition, which are only deriving 10–20% of their revenue from AI solutions. This means SMCI is gobbling up ever larger shares of the AI market – which forms a strong foundation for future growth. Momentum is on its side in this area as well.

This has been reflected in earnings, with its latest quarter-over-quarter revenue growth coming in at a staggering 70%. And for the full fiscal year, even if it comes in at the lower end of its guidance, that would still be an annual growth of over 30%.

In sum, SMCI has the wind in its back. Right now, there’s a lull – but it might not last for long. If you miss this opportunity, it may never come again.

To your wealth,
Felix @ Ace of Investing