8 Best Bargain Stocks To Buy in October

2. Super Micro Computer, Inc. (NASDAQ:SMCI)

Forward P/E as of September 28, 2024: 12.51

Analyst Upside Potential as of September 28, 2024: 51%

Number of Hedge Fund Holders: 47

Super Micro Computer, Inc. (NASDAQ:SMCI) is an information technology company based in California, United States. The company provides computing, storage, networking, and green computing technology solutions. It specializes in developing enterprise, cloud, AI, Metaverse, and 5G Telco/Edge infrastructure.

With operations in more than 100 countries, Super Micro Computer, Inc. (NASDAQ:SMCI) ranks second on our list of the best bargain stocks according to analysts. The fiscal year 2023 was a turning point for the company in financial terms. SMCI logged its first $2 billion in quarterly revenue and its first $7 billion in yearly revenue in 2023, driven by its expansions in Asia and value-added AI solutions.

The company is thriving in the server segment. Last week, it introduced high-performance Intel-based servers for AI, Cloud, and Edge. Earlier in June, Super Micro Computer, Inc. (NASDAQ:SMCI) added 3 new manufacturing facilities in Silicon Valley and globally to support the accelerating demand for AI and Enterprise solutions. According to the company’s CEO, the new servers will help SMCI develop customized solutions for their clients.

In the fiscal year 2024, Super Micro Computer, Inc. (NASDAQ:SMCI) logged $14.94 billion in revenue, up by 110% year-over-year, driven by its new AI infrastructure. Note that the company’s FQ4 2024 revenue alone exceeded the revenue for the complete fiscal year 2022. Such testifies to SMIC’s growth potential amid the AI boom, and why it is one of the best bargain stocks to buy.