S&P 500 Surpasses 7800 Points for the First Time, Super Micro Computer Climbs Over 7%

Stock News08-13 22:25

The S&P 500 index rose more than 0.7% on Thursday, breaking through the 7800-point mark for the first time and setting a new all-time high.

Among the index's components, Super Micro Computer Inc (NASDAQ: SMCI) surged over 7% to $40.335 per share. This move comes after the company released its earnings report, forecasting revenue for the quarter ending in September to be between $14.5 billion and $15.5 billion, with earnings per share (excluding certain items) expected to be between $1.01 and $1.10. Compiled market data indicates that analysts had anticipated average revenue of approximately $12 billion and earnings per share of $0.74, while this outlook even surpasses the most optimistic revenue forecast of $13.3 billion. Northland Securities analyst Nehal Chokshi maintained a Hold rating on Super Micro Computer and raised the target price from $36 to $43.

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