Is it time to take a look at shares of Super Micro Inc. (Nasdaq: SMCI)? The stock of the data-center infrastructure provider took a hit after the company announced 41% year-over-year revenue growth and earnings that beat estimates for its second fiscal quarter.

The company announced revenue of $503M, which is 41% year-over-year growth. 60% of revenue was contributed by systems sales (servers and storage) while the remaining 40% was contributed by component sales. The company reported Earnings Per share (EPS) of $0.65, exceeding the consensus expectation by $0.18.

The stock was getting hammered today, down $3.63 (9.62%) to $34.11, as apparently the news had not lived up to investor expectations. But the company has been growing fast land the quarter indicates that it's gaining share on rivals in the X86 server market market share on rivals. Despite today's setback, shares have more than doubled since the summer.

Super Micro is an interest company to watch for trends in cloud and Software Defined Networking (SDN) market. The fast-growing data-center infrastructure company makes server units and power platforms designed for the cloud, and it has an OEM deal with SDN software and hardware maker Pluribus Networks, which garnered $50M in funding today.

Some analysts see the report as confirming Super Micro's growth in market share in the X86 server segment, for cloud services and white-box platforms.

"We believe the December quarter results support our thesis that SMCI continues to take market share in the X86 market against its larger competitors," wrote Mark Kelleher, analyst with D.A. Davidson. "New processors from Intel (INTC $36.09) that are just now reaching the market should continue to drive new server product cycles; we believe the Lenovo/IBM (IBM-$156.95) transition is likely to open up additional market share gain opportunities as IBM customers evaluate server options."

On the corporate conference calls, Super Micro officials cited strength in the storage and cloud markets. Super Micro CEO Liang says the company's new line of servers based on Intel's latest Core i3 processor, called Haswell, is providing an engine of growth. Haswell platforms are targeted at the cloud market with low energy consumption.