Thoughts on $SMCI post-split performance and forward guidance?

The recent 10-for-1 split for Super Micro Computer Inc. ($SMCI) has certainly adjusted the per-share price, but I'm more interested in the underlying sentiment and analyst revisions following their last earnings call. While the topline numbers were strong, the guidance, specifically for Q4, seemed to introduce some cautious notes regarding demand visibility and component availability.

From a technical perspective, the stock has found some support around the pre-split equivalent of $70-$75, but momentum appears to have softened considerably. Volume has also tapered off. Is this merely post-split rebalancing, or are there deeper concerns regarding the sustainability of their growth trajectory in the AI server market? Their reliance on specific chip manufacturers for high-demand components also presents a supply chain risk that merits closer attention.

What are others' interpretations of their forward outlook, particularly regarding their ability to maintain margins given the competitive landscape and potential for pricing pressure? Are current valuations justified based on projected growth rates for the next 12-18 months, or is there a case for further multiple compression?