SMCI Surges +15%, Hits $1,086 High, Eyes $1,530 Target, Argus Sets $1,350 PT

Super Micro Computer, Inc. (SMCI) experienced a significant surge in its stock price, surpassing $1,000 with a +15% jump and reaching an all-time high of $1,086. The stock saw an impressive 26% increase with no signs of selling pressure, amid expectations of a stock split. Trading volumes hit 15 million with predictions of an additional 5-15 million by the end of the day. An early morning trading strategy on spreads yielded a 34% gain, from $23 to $31. Despite a brief pullback to $970, the stock is expected to reach $1,200 by the end of the week, with a potential $1,530 target still considered achievable. Argus has initiated coverage on SMCI with a 'Buy' rating and a price target of $1,350, indicating strong future performance expectations.