Super Micro Computer stock outperformed Nvidia in 2024 with strong revenue growth and analyst projections.

From Nasdaq: 2024-06-01 03:55:00

Nvidia’s AI chip demand drives shares up 115% in 2024. Revenue jumps 262% to $26 billion in Q1 fiscal 2025, earnings rise 461% to $6.12 per share. $28 billion revenue guidance for ongoing quarter indicates continued growth.

Super Micro Computer stock up 211% in 2024, outperforming Nvidia. Revenue triples to $3.9 billion in Q3 fiscal 2024, non-GAAP earnings rise to $6.65 per share. Analyst predicts 23% AI server market share for Supermicro by 2024, with significant long-term growth potential.

Supermicro’s capacity expansion plans could double production capacity, leading to solid top-line growth. Stock trades at 24 times forward earnings and is undervalued with a PEG ratio below 1. Expected compound annual growth rate of over 60% for next five years makes it an attractive investment option.

Investors should consider buying Super Micro Computer stock now for significant growth potential. *Stock Advisor analysts recommend 10 best stocks to buy now for monster returns. Nvidia previously recommended by Stock Advisor significantly outperformed S&P 500.

Disclosure: Harsh Chauhan does not hold positions in mentioned stocks. The Motley Fool holds and recommends Nvidia. Stocks and recommendations are subject to disclosure policies. Views expressed are author’s own and not necessarily reflect Nasdaq, Inc.



Read more at Nasdaq: This Artificial Intelligence (AI) Stock Has Outperformed Nvidia in 2024