Super Micro Computer stock down 17% despite strong revenue growth, CEO remains optimistic.

From Nasdaq MarketSite: 2024-08-12 13:48:00

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Super Micro Computer stock is down 17% after a near 150% revenue growth in the last quarter. They specialize in green computing and have a high backlog of orders. Competitors like Cisco and Dell offer simpler solutions, but Super Micro’s highly personalized systems are more power-efficient and cost-effective for power-intensive compute needs, like AI.

The CEO of Super Micro Computer expects the company to reach $50 billion in revenue, up from nearly $15 billion this past fiscal year. Last year, he predicted $20 billion in sales, which now seems attainable. With revenue more than doubling in a year, the new target of $50 billion could be within reach in a reasonable timeline.

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Read more at Nasdaq MarketSite: What’s Got Super Micro Computer Investors So Down?