Super Micro Computer stock has plenty more upside ahead, according to a Needham analyst who expects investors to buy up shares of the server maker, which he thinks will be a successful AI play. Quinn Bolton initiated coverage of Super Micro with a Buy rating and a $600 price target,

Supermicro also announced it would be late filing its end-of-year Form 10-K to the Securities and Exchange Commission (SEC) due to management's assessment of internal controls over financial reporting. This announcement came nearly at the same time as famed short-seller Hindenburg Research announced its short position in the company.

Super Micro Computer stock (NASDAQ: SMCI) has seen a big sell-off in recent months, falling from highs of nearly $1,200 per share in March to about $445 presently.