Aug. 26 at 7:59 PM
$SMCI 🚨 THE VALUATION DISCONNECT IS GETTING RIDICULOUS.
Look at how the market is pricing these AI infrastructure names:
🔥
$SMCI: ~8.2x forward P/E
🔥
$DELL: ~23.2x forward P/E
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$HPE: ~13.7x forward P/E
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$CRWV: No meaningful positive P/E
🔥
$NBIS: ~1,277x trailing P/E / forward P/E N/A
Now put that into perspective:
SMCI trades at roughly ONE-THIRD of Dell’s forward earnings multiple while sitting directly in the heart of the AI server, rack-scale and liquid-cooling buildout.
Even crazier: the hardware industry median forward P/E is around 21.3x versus only ~8.2x for SMCI.
That’s roughly a 62% discount to the industry median. 🤯
Meanwhile, SMCI just guided FY27 revenue to
$65B–
$72B.
The market is pricing
$DELL,
$HPE,
$CRWV and
$NBIS for AI growth while pricing
$SMCI like the growth story is finished.
I think that disconnect eventually gets corrected.
At even a 15x–20x forward multiple, the valuation conversation around
$SMCI changes dramatically.
This isn’t about hype anymore.
It’s about the MULTIPLE.
