2024-05-08 08:30:00 ET
Summary
- Super Micro Computer's Q3 revenue fell short of analyst estimates, causing a 14% decline in stock prices.
- However, the company's earnings report showed annualized growth rates of 200% and raised revenue guidance for fiscal year 2024.
- SMCI stock's recent decline is seen as a buying opportunity, with nearby support zones indicating potential strength for new long positions.
Super Micro Computer, Inc. (SMCI) has been on a rollercoaster ride of ups and downs over the last few months, with share prices falling to recent lows of $700 per share before stabilizing. For the third-quarter period, Super Micro reported on April 30th revenue figures of $3.85 billion, falling short of analyst estimates ($3.95 billion), and the stock was met with immediate selling pressure that caused single-session declines of 14%....
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Super Micro Stock: Sell-Off Is A Buying Opportunity (Technical Analysis)