Super Micro Computer Stock Rises Despite Market Dip, Positive Growth Outlook
• Super Micro Computer (SMCI) stock closed higher despite the overall market dipping today. SMCI gained 0.48% while the S&P 500 fell 0.95%.
• SMCI is expected to report strong earnings growth in its next quarterly release, with EPS estimated to rise 266.26% year-over-year. Revenue is forecast to jump 219.92%.
• For the full year, SMCI's EPS is projected to climb 87.55% and revenue is likely to increase 107.26%. Recent analyst revisions reflect positivity towards SMCI.
• SMCI currently has a Zacks Rank of #3 (Hold) and trades at a Forward P/E of 40.83, representing a premium versus its industry average of 17.38. Its PEG ratio is 0.73.
• The Computer-Storage Devices industry, which SMCI belongs to, ranks in the top 14% of over 250 Zacks-classified industries. The top 50% of industries historically outperform the bottom half.