Others' greed makes me fearful, and others' fear makes me greedy! SMCI's office building in Silicon Valley has expanded from one building to more than a dozen, with explosive growth in employees and production capacity. The SMCI office buildings added on both sides of Highway 880 in Silicon Valley are the talk of the town. Fixed assets have been consistently increasing, company performance has doubled, and the stock price has dropped to the level of December 2022. It is indeed a good time to buy. The current P/E ratio is 10 times. Even if there are some financial errors, they will not exceed a 20% margin of error. And the stock price has already dropped by 50%. As long as you have patience to hold, the market will eventually reflect the true value of the company's performance. A valuation of $38 is reasonable.