Super Micro Computer (SMCI) continued its wild week Friday as shares jumped in the first few minutes of trading before rev꧂ersing course and moving sharply lower.

The decline came as Wells Fargo initiated coverage of the stock Friday with an equal-weight rating, saying that while Super Micro stands to benefit from the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) boom, the companꩲy's share price already💝 reflects much of the upside.

The stock ended Friday's session down 20% at $803.32, after having risen as much as 7.4% in the opening minutes of trading. The stock, which has nearly tripled in price since the start of the year, surged 14% to above $1,000 on Thursday amid anticipation of future gains driven by rising demand for AI.

Earlier this week, Barclays analysts had raised their 澳洲幸运5官方开奖结果体彩网:price target for the stock to $961 from $691, citing Super Micro Computer's position within the AI ecosystem and "strategic" partnerships with NVIDIA (NVDA), Advanced Micro Devices (AMD), and Intel (INTC).

"As AI architecture becomes more complex, SMCI has design capabilities to mix/match components to meet a customer’s increasingly varied needs, as well as using flexible manufacturing with scale to meet these varied requirements," the analysts wrote.

Bank of America analysts initiated coverage this week with a "buy" rating, and also said they expect "this provider of server and storage solutions will be a beneficiary of AI-driven demand growth." 

"We believe the market for AI servers is much larger than is factored in Street models," Bank of America analysts noted, adding that Super Micro Computer has an "ability to work with multiple new designs and technologies [that] will serve it well as myriad AI-related processors debut in the next several years."

Update-Feb. 16, 2024: This article has 💙been updated to reflect the price movements for Super Micro shares on Friday, as well as information from a report by Wells Fargo.