Our Data Storage Pick Is Up 150% Since October!

Data storage has become big business.

It used to be that data collection was about government agencies illegally diving into our emails looking for nefarious activities. Today, it’s grown well beyond that.

All kinds of businesses, from health care to retail to tech, collect as much of your data as they can. Your age… your search history… even your location.

And they use it for everything: marketing, fraud prevention, even improving their decision-making.

I recently read an essay that found we create 328.7 million terabytes of data every day around the world. A terabyte, if you’re unfamiliar, is 1,000 gigabytes… or the equivalent of 500 feature-length high-definition movies.

This volume of data is like digital gold to a wide range of companies … not the least of which are companies that build data storage devices.

Today, I’m going to show you the trend of the data storage market worldwide and highlight a recommendation I made in October using the Green Zone Power Rating system.

I hope you followed it then… Because now, it’s the best-performing stock we’ve recommended since we started Stock Power Daily a year ago!

Data Storage Market Boom

It’s true that data collected from you by any number of companies is sold 10 times over. Remember, I said data was like digital gold.

But those 328.77 million terabytes of data have to go somewhere. In other words, we need a way to store all this data.

And because of that, the global data storage market is growing fast:

According to Statista Consumer Market Insights, the value of the data storage market worldwide was $27.1 billion in 2016.

That will grow to $59.5 billion by 2027 … a 120% increase!

So, there’s not only money to be made in selling data, but storing it too.

That leads me to a company I told you about in October. It’s the best-performing stock of all the ones I’ve recommended to you over the last year…

SMCI Continues to Outperform

When I first told you about Super Micro Computer Inc. (Nasdaq: SMCI) in October 2022, I wanted to lean into its strength for edge computing and Internet of Things devices.

But with the world churning out data at a breakneck pace, I believe the company can be a global leader in data storage as well.

Since I mentioned it, SMCI has certainly not disappointed anyone who took my recommendation:

As you can see, since October 2022, the stock has continued to show the “maximum momentum” we love to see in stocks by rising 152%.

That blows the doors off the broader S&P 500 … which is only up 13% over the same time.

What’s even better is SMCI still carries a great rating on our proprietary Green Zone Power Ratings system:

SMCI Green Zone Power Rating in May 2023.

It scores a “Strong Bullish” 94 out of 100. That means we expect the stock to outperform the broader market by 3x over the next 12 months.

SMCI rates high on our quality metric (98) with double-digit returns on assets, equity and investment … all beating the average negative returns of its computer hardware sector cousins.

The stock’s impressive expansion over the last several months shows why it scores a 94 on our momentum factor.

Bottom line: SMCI was a great stock when I first told you about it in October 2022. It’s still a great stock today.

Leadership in the burgeoning data storage market means there is still more room for this stock to run. And it’s “Strong Bullish” rating on our Green Zone Power Ratings system backs that up.

That makes it a great addition to your portfolio.

Stay Tuned: Adam’s Take on the Banking Crisis

Tomorrow, Adam O’Dell will share his latest research on the banking crisis. You’ll want to tune in for this one, because some surprising names have popped up, and you might even be a depositor…

Until then…

Safe trading,