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Super Micro Computer Stock Is Soaring Today -- Is It a Still a Buy for 2024?

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Super Micro Computer Stock Is Soaring Today -- Is It a Still a Buy for 2024?: https://g.foolcdn.com/editorial/images/761922/an-ai-chip-on-a-circuit-board.jpg

Super Micro Computer (NASDAQ: SMCI) stock is rocketing higher Friday. The server-and-storage company's share price was up 32.6% as of 1 p.m. ET, according to data from S&P Global Market Intelligence.

After the market closed yesterday, Super Micro Computer published updated guidance for the second quarter of its 2024 fiscal year, which closed Dec. 31. The guidance updates indicate that the business is seeing huge demand driven by the rise of artificial intelligence.

Take a look at the guidance comparison for the company's fiscal Q2 sales, earnings, and non-GAAP (generally accepted accounting principles) adjusted earnings in the chart.

Source Fool.com

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