Value- SMCI
No doubt, I am pissed I sold it at $74 last February, but sour grapes has nothing to do with my view that the stock is not cheap here. I mean I don't hesitate to buy anything(regardless of how much it's risen already) if I feel it's well undervalued, and with strong growth ahead. I mean I had months to buy this in the $200s not too long ago, and didn't. Why ? Because at the time the stock was selling for about a 17 PE going forward, and I felt that being the PE had doubled going forward already, that most of the potential was priced in for this hardware maker. Now at 1000, the stock is selling at around a 34 PE going forward, which is 4 times the PE it what it was a year ago. I mean NVDA is no more expensive on a valuation basis, and that stock has always had a high PE around 40 or more. So all I'm saying is, assuming SMCI doesn't have a monopoly on AI servers, it will never retain a 35+ PE going forward. Thing is, in all the years I've been investing, I've never seen one tech company that retained a monopoly on anything for very long.
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