Published on 6 May 2024 on Motley Fool via Yahoo Finance
Is Super Micro Computer Stock a Buy Now?
Super Micro Computer (NASDAQ: SMCI), more commonly known as Supermicro, posted its latest earnings report on April 30. For the third quarter of fiscal 2024, which ended on March 31, the server maker's revenue surged 201% year over year to $3.85 billion but still missed analysts' expectations by $100 million. Its adjusted earnings soared 308% to $6.65 per share and easily cleared the consensus forecast by $0.87.
Supermicro is still growing like a weed, but missing Wall Street's lofty revenue estimates caused its stock to stumble 10% during after hours trading. Should investors consider that pullback to be a buying opportunity or a grim warning?
