Bought this at 93ish in Feb. Wedbush downgrades April 6 with $65 PT. I can't believe these guys get paid to analyze stocks.
I think the CEO Liang is from Taiwan, same as NVDA and AMD CEOs. Compared to white and Indian CEOs, these folks are way underpaid.
The uptrend (when the lows kept on getting higher and higher) started 3/4 year ago. Where were you 3/4 year ago? Did Wedbush talk about the SMCI upgrade 3/4 year ago? If it didn't, then don't listen to WEDBUSH forever, now till the end of the time. Also, Wedbush cannot read charts; SMCI is still on the uptrend. Even the blind can see it is on the uptrend. I should also ask : Where were Wedbush 3/4 year ago ?!?!?!? Many people wait and wait and wait for the price to go very high, and for the price to break record high, then buy. In trading & investing, timing is very important. Humans are very strange. When we buy things like food, computer, house, gadget .... we make sure the sellers are not overcharging us. When we buy stocks, some buy them when it is very high price.
I started buying in low $60s back in October. It was purely a value play for me as well as hitting all time high. I couldn't believe a stock that was going to earn $12/share was trading at $62. A forward 5 P/E stock? Historically their P/E rarely goes past 10 so it is probably capped for now but their revenue could grow even more if the need for AI systems rises. I also had familiarity with the products since I used to build storage RAID arrays for my movie & music collection. They are very good at rolling out bleeding edge server & workstation boards and their products are actually cheaper than buying Dell or HewPaq servers. For non professionals Supermicro & ASRock Server (partially owned by ASUS) are the only alternatives especially in the used market.