Where Will Super Micro Computer Stock Be in 3 Years?
Shares of Super Micro Computer (NASDAQ: SMCI) -- aka Supermicro -- have been red-hot in recent years. The company would have turned an investment of just $100 made three years ago into more than $2,300 as of this writing -- though it is worth noting that a big chunk of those gains arrived in the past year and a half, after it became clear how the artificial intelligence (AI) boom would drive robust growth in its top and bottom lines.
More specifically, a $100 investment in Super Micro Computer made at the beginning of January 2023 would now be worth $950. That's despite a drop in the company's stock price of late. Shares of Supermicro are down by 34% from the 52-week high that it hit on March 8. However, this pullback has provided a solid opportunity for investors looking to add an AI stock to their portfolios, as Supermicro seems primed to deliver robust gains over the next three years.
In Super Micro Computer's fiscal 2024 third quarter (which ended March 31), its revenue jumped a stunning 200% year over year, as the demand for the company's servers remained robust. What's more, the company's non-GAAP earnings shot up 308% to $6.65 per share.
Source Fool.com
