This is a news story, published by MSN, that relates primarily to SMCI news.
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Super Micro Computer SMCI sharesZacks Investment Research
•79% Informative
Super Micro Computer SMCI shares have skyrocketed 194.5% year to date , outpacing the Zacks Computer Storage Devices industry and S&P 500 index, which have returned 84.3% and 16.1% .
The company raised its guidance for fiscal 2024 revenue from fiscal year from $14.3-$14.7 billion to $15.1 billion in its third-quarter fiscal 2024 earnings release.
The Zacks Consensus Estimate for SMCI ’s fiscal 2024 revenues is pegged at $1493 billion , indicating 109.7% growth year over year .
SMCI is trading at a premium with a forward 12-month P/E of 35.02X compared with the industry’s 22.2X and higher than the median of 27.27X.
Investors looking to buy the stock should wait for a better entry point.
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