Nvidia ‘s latest blowout earnings report spells good news for a host of other tech stocks. The dominant maker of artificial intelligence processors delivered expectation-topping fiscal first-quarter results, stronger-than-anticipated guidance, declared a 10-for-1 stock split and raised its dividend. That strong showing bodes well for a host of other companies riding the AI tide or with specific connections to Nvidia. For Super Micro Computer , Bank of America analyst Ruplu Bhattacharya sees multiple growth opportunities ahead. And strong continued demand related to AI that extends beyond cloud services can be a big catalyst. “In our view perhaps the biggest takeaway from Nvidia’s F1Q25 earnings call was that demand for AI related accelerated computing remains strong and is expanding beyond cloud service providers to consumer internet companies, enterprise and sovereign AI,” Bhattacharya told clients. “In our opinion, Supermicro stands to benefit from this growing demand.” Bhattacharya said Super Micro is well-positioned with smaller cloud service providers that are expanding globally amid strong demand. It’s also in talks with sovereign entities looking for partners to best utilize AI on the hardware end. Super Micro has already had a monster year, soaring more than 211% in 2024 after climbing 246% last year. Despite that, Wall Street sees more room to run: The average analyst polled by FactSet has a buy rating and price target implying shares can climb almost another 15%. SMCI YTD mountain Super Micro, year to date Taiwan Semiconductor also stands to gain from Nvidia’s report, according to Bank of America analyst Brad Lin. Taiwan Semiconductor, which he called the “enabler of generative AI” as a supplier of integrated circuits and packaging, should benefit from high demand. Nvidia’s strong foreard guidance is a particularly good sign, Bank of America argued. Lin also noted that Nvidia’s growing focus on energy efficiency can strengthen Taiwan Semiconductor’s place in the industry. “We are encouraged to learn the robust cloud AI outlook shared by Nvidia,” Lin wrote to clients. Citigroup analyst Laura Chen told clients to expect “strong momentum to continue” at Taiwan Semiconductor following Nvidia’s latest financial results. Taiwan Semiconductor’s U.S. shares have jumped 52% in 2024. The majority of analysts surveyed by FactSet have a buy rating, with the average price target suggesting shares can rise more than 3% over the coming year. Dell can now…
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