WOLF - SMART Global Holdings: Expectations Reset Could Be A Good Thing

• The market reacted badly to the most recent guidance, but there is reason to believe better times are around the corner.
• The stock is down big after a long decline, but it has also bounced off an important support level, which is a positive sign going forward.
• SGH trades at relatively low valuations for the most part, which means getting in now could be an opportunity if earnings recover in the second half.
• Expectations have come down, lowering the bar for SGH to beat and surprise, suggesting long SGH is the way to go.

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