SolarEdge Technologies (SEDG) Soars to 52-Week High on Q3 Blowout, AI Support Deal

SolarEdge propelled to a caller 52-week precocious connected Monday aft rallying for 2 days successful a row, arsenic investors cheered the results of its net show successful the 3rd 4th of the twelvemonth and concern announcements to enactment AI information centers.

At intra-day trading, the banal jumped to its highest terms of $48.60 earlier trimming gains to extremity the time conscionable up by 13.45 percent astatine $45.38 apiece.

In an updated report, SolarEdge Technologies Inc. (NASDAQ:SEDG) said it trimmed its nett nonaccomplishment successful the 3rd 4th of the twelvemonth by 96 percent to $50.06 cardinal from $1.23 cardinal successful the aforesaid play past year, connected the backmost of higher gross nett and little operating loss.

Revenues jumped by 44.68 percent to $340 cardinal from $235 cardinal year-on-year, falling wrong its earlier guidance of $315 cardinal to $355 million.

In different news, SolarEdge Technologies Inc. (NASDAQ:SEDG) announced that it joined forces with Infineon Technologies for the plan and improvement of a Solid-State Transformer (SST) level susceptible of powering the next-generation AI and hyperscale information centers.

SolarEdge Technologies Inc. (NASDAQ:SEDG) said that the caller exertion would beryllium designed to enactment 800-volt nonstop existent (VDC) AI information halfway powerfulness architectures.

While we admit the imaginable of SEDG arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.