What Is SMCI Stock Worth Without The Scandal Discount?

Super Micro Computer (SMCI) stock has been trading at a significant discount since a March DOJ indictment involving board member Yih-Shyan Liaw, despite the company not being named as a defendant. The article argues the scandal discount is unjustified given strong Q2 financials (revenue up 123% YoY), active compliance improvements including a new chief compliance officer and forensic review, and collaboration with Taiwanese authorities that resulted in server seizures. SMCI trades at 21.7x earnings versus peers at 45x+, suggesting potential upside as the compliance turnaround story gains recognition.