Is It Too Late to Buy Super Micro Computer Stock?
Super Micro Computer (NASDAQ: SMCI) investors are sitting on solid gains of 176% in 2024, as shares of the company that's known for manufacturing server and storage products have continued their rampant rise this year following an impressive performance in 2023, when they shot up a whopping 246%. What's more, Super Micro stock is up an impressive 855% since the beginning of 2023.
Investors may be wondering if they should be buying this high-flying tech stock following such stunning gains in the past year and a half. However, a closer look at the stock's recent performance points toward a sharp pullback, with shares of Super Micro Computer down 34% from the 52-week highs they hit on March 8.
Should investors use this drop to buy more shares of Super Micro in anticipation of more upside, or is it too late to buy this stock? Let's find out.
Source Fool.com
