Super Micro Computer Is Joining the S&P 500. Time to Buy?

Super Micro Computer (NASDAQ: SMCI) has been around for more than 30 years, but just recently this company has taken center stage -- and delivered many "firsts," such as its first $2 billion quarter. Earnings have been on the rise thanks to this company's behind-the-scenes but crucial role in the world of artificial intelligence (AI). Supermicro provides complete information technology (IT) solutions for customers working in the space -- including servers, storage systems, and more.

And just days ago, Supermicro scored a big win. It was chosen to join the S 500 index -- news that drove the stock price to an 18% gain in just one session. That's after already soaring more than 2,000% over the past two years.

Now, you may be wondering if it's time to buy Supermicro as it's confirmed as being part of the elite group of companies powering today's economy -- or if the recent spectacular gains have made this top tech stock too pricey. Let's find out.

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Source Fool.com