Published on 29 May 2024 on Insider Monkey via Yahoo Finance

Super Micro Computer (SMCI) Experienced an AI-Driven Uptick in Demand

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Equity markets surged at the beginning of 2024 in anticipation of the US economy entering a "goldilocks" scenario - a soft landing combined with decreasing inflation, potentially leading to a cut in interest rates by the Fed. In the first quarter, its Investor Class fund ARTSX returned 9.43%, Advisor Class fund APDSX posted a return of 9.42%, and Institutional Class fund APHSX returned 9.48%, compared to a return of 7.58% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Artisan Small Cap Fund highlighted stocks like Super Micro Computer, Inc. (NASDAQ:SMCI), in the first quarter 2024 investor letter. Super Micro Computer, Inc. (NASDAQ:SMCI) develops and manufactures high-performance server and storage solutions. The one-month return of Super Micro Computer, Inc. (NASDAQ:SMCI) was 18.48%, and its shares gained 290.59% of their value over the last 52 weeks. On May 28, 2024, Super Micro Computer, Inc. (NASDAQ:SMCI) stock closed at $874.72 per share with a market capitalization of $51.221 billion.