Raspberry Pi Holdings just went public on the London Stock Exchange, and the stock has done what young tech companies do—it’s rocketed up 95%. Nice story, right? But here’s where I pump the brakes a bit. I’ve been in IT long enough to know that a stock going up that fast doesn’t always mean the business underneath deserves it. Sometimes the market just gets excited. Sometimes it’s warranted. Let’s talk about which it might be here.
The Raspberry Pi Story Everyone Already Knows
For those who’ve been living under a rock, Raspberry Pi is the tiny, cheap computer that made it possible for kids in their bedrooms and tinkerers in their garages to learn programming and electronics without dropping a grand on a proper machine. It’s roughly the size of a deck of cards, costs less than a decent dinner, and it works. This matters more than you’d think.
I remember when these first came out around 2012. The reaction in our office was split. Half the team thought it was a toy. The other half immediately started building things with it. That second group turned out to be onto something. Raspberry Pi didn’t just capture a niche—it created one. Schools started using them. Businesses built prototypes on them. IoT projects that would’ve been impossible to fund suddenly became feasible.
The company kept the prices low, the community support strong, and the product simple. No bloat, no unnecessary complexity. Just computing power at a price point that made sense. That’s the formula that got them to an IPO.
When Stock Prices Get Ahead of the Story
Here’s my skepticism: a 95% run in a matter of weeks tells you something important, but maybe not what you think it does. It tells you that investors are betting on the brand, the future potential, and the fact that this is now a “real company” you can actually own a piece of. That’s not the same as telling you the company is undervalued.
I’ve seen this before. A technology company with genuine innovations and a loyal customer base goes public. Retail investors pile in. Analysts start making predictions about “total addressable markets” and “long-term growth trajectories.” All of that might be true. But it doesn’t mean the stock price at that particular moment is a bargain.
Raspberry Pi’s business is straightforward: they make and sell single-board computers. The margins are real, the demand is real, and the community is genuinely valuable. But they’re also competing in a space where supply chains matter, manufacturing costs matter, and geopolitics matter. They’re not immune to any of that.
The article suggests that after this 95% climb, the stock is now fairly valued. I’d argue that’s the smart take. It means the obvious upside is probably already baked into the price. Which also means if you’re thinking about buying in now, you’re not getting a discount anymore—you’re paying what it’s actually worth.
What Actually Matters Going Forward
The real question isn’t where the stock went—it’s whether Raspberry Pi can keep doing what it does best. Can they maintain their supply chain in an increasingly complicated world? Can they keep prices low while dealing with inflation and competition? Can they grow revenue meaningfully from where they are now?
These aren’t flashy questions. They don’t make for exciting headlines. But they’re the ones that actually determine whether a stock at current valuations makes sense.
Here’s what I know from two decades in tech: the companies that last are the ones that stay focused on their core mission. Raspberry Pi’s mission is giving people access to computing power without a huge price tag. If they stick to that, they’ll be fine. If they start chasing every new trend or try to be everything to everyone, that’s when you should worry.
The stock jumping 95% isn’t crazy—the product and the company behind it are legitimately good. But it also means you’re not buying a hidden gem anymore. You’re buying a known quantity at what looks like fair value. For some investors, that’s exactly what they want. For others, it’s not exciting enough. Either way, the hype cycle is probably over. Now we see if the business can actually deliver.
Source: Raspberry Pi Holdings (LSE:RPI) Stock Looks About Right On Its 95% Run
Sarah Mitchell
Michael Torres
Emma Clarke