Super Micro rises as set to join Nasdaq 100 index
** Super Micro Computer's SMCI.O shares up 3.5% at $941.53 premarket ahead of its Nasdaq 100 inclusion next week
** AI-optimized server maker to replace Walgreens Boots Alliance WBA.O in Nasdaq-100 Index .NDX and Nasdaq-100 Equal Weighted Index .NDXE effective Mon, Jul 22, the Nasdaq .NDAQ said late Fri
** NDX index comprises 100 of the largest of world's non-financial cos on the Nasdaq stock market based on market cap
** Super Micro will be considered for inclusion in Nasdaq-100 Tech Sector Index .NDXT, Nasdaq-100 Tech Sector Market-Cap Weighted index .NDXTMC and Nasdaq-100 Tech Sector Adjusted Market-Cap Weighted index .NDXT10 at next quarterly rebalancing, per the statement
** SMCI shares up 220% YTD through Fri, giving co ~$53.3 bln market cap, per LSEG
** 11 of 17 analysts rate SMCI "strong buy" or "buy, 5 have "hold", while 1 recommends "sell"
** Median PT of $1,029,51 up from $960 on Apr 15
** Meanwhile, WBA shares flat at $11.50 before the bell. Shares have shed 56% in 2024 giving drugstore chain ~$10 bln market value
** WBA's stock has slumped since co cut its 2024 profit forecast in late Jun and said would close underperforming U.S. stores due to weak consumer spending
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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