摩根大通升級到中性後，超級微型計算機（SMCI）股價增長了9％，將目標股價提高到45美元

在周五交易中，該股票飆升了約9％，至42.44美元。這使該公司的年度增長近40％。

Super Micro Computer shares shot up sharply on Friday, leading the S&P 500 after a significant ratings boost from JPMorgan analysts helped propel the stock higher.

超級微型計算機的股票在周五急劇上升，在JPMorgan分析師的顯著評級提高後，標普500股票有助於推動該股更高。

The stock surged about 9% to $42.44. It had already nearly quadrupled in 2023.

該股票飆升了約9％，至42.44美元。它在2023年已經幾乎三倍。

However, SMCI shares are still down more than half over the past 12 months. The stock has seen huge swings as it navigates several challenges.

但是，在過去的12個月中，SMCI股票仍然下降了一半以上。該股票在面對幾個挑戰時看到了巨大的波動。

JPMorgan upgraded Super Micro to Neutral from Underweight and raised its price target to $45 from $35.

摩根大通將超級微型從體重升級為中立，並將其目標目標從35美元提高到45美元。

The upgrade comes as Super Micro appears to have fended off pressing regulatory hurdles. The company recently met a key deadline to maintain its stock market listing.

升級是因為超級微型似乎已經抵制了壓迫監管障礙。該公司最近在維護其股票市場上市的關鍵截止日期。

SMCI had faced possible delisting after falling behind on financial disclosures to the Securities and Exchange Commission. The company filed the required documents last month.

SMCI在向美國證券交易委員會的財務披露落後後面臨可能的脫口秀。該公司上個月提交了所需文件。

Super Micro's stock had previously come under pressure following accusations of accounting manipulation last August. The allegations led to the resignation of the company's auditor.

在去年八月進行會計操縱指控之後，超級微型的股票此前遭受了壓力。這些指控導致了公司審計師的辭職。

JPMorgan analysts appear more upbeat on the company's prospects. They cited strong demand for Super Micro's servers that use Nvidia's new Blackwell chips.

摩根大通分析師對公司的前景似乎更加樂觀。他們引用了對使用NVIDIA新的Blackwell芯片的Super Micro的服務器的強烈需求。

The company is "on the cusp of benefitting from ramp in Blackwell-based server shipments, which we view as significantly higher demand than previous gens are placing a premium on Nvidia to drive max supply on both chips and modules this year," according to the JPMorgan note.

根據JPMorgan的票據，該公司正在“受益於基於Blackwell的服務器運輸中的坡道，我們認為這比以前的Gens對Nvidia的溢價更高，以推動今年的芯片和模塊上的最大供應。”

The Wall Street firm raised its fiscal year 2026 revenue forecast for SMCI to $39 billion from $34 billion to reflect an improved supply ramp from Nvidia.

華爾街公司將SMCI的2026財政年度預測提高到了390億美元，從340億美元，以反映NVIDIA的供應坡道的改善。

JPMorgan analysts applied a 10x earnings multiple to SMCI shares, up from their previous 9x multiple, but this still compares to an 11x multiple for competitor Dell.

摩根大通（JPMorgan）分析師對SMCI股票的收益倍數為10倍，這是其前9倍的倍數，但這仍然與競爭對手戴爾（Dell）的11倍倍數相比。

The continued discount reflects ongoing concerns including historical filing challenges, a recent CFO change and an ongoing Department of Justice investigation.

持續的折扣反映了持續不斷的擔憂，包括歷史申請挑戰，最近的CFO變更和正在進行的司法部調查。

"While we view these headwinds largely known, they continue to weigh on the shares in our view," the analysts warned.

分析師警告說：“雖然我們認為這些逆風在很大程度上是眾所周知的，但它們仍在我們看來的股票中繼續權衡。”

Despite the upgrade, JPMorgan cautioned that Super Micro faces several potential setbacks. The firm noted an "increasingly competitive AI Servers landscape that has led to aggressive pricing and we expect this to continue to impact gross margins."

儘管進行了升級，但摩根大通警告說，超級微型面臨幾個潛在的挫折。該公司指出，“競爭激烈的AI服務器格局，導致了積極的價格，我們希望這會繼續影響毛利率。”

This competitive pressure could impact the company's gross margins going forward.

這種競爭壓力可能會影響公司的毛利率。

JPMorgan also highlighted the prospect of higher interest expenses when the company raises additional capital, which could further pressure profitability.

摩根大通還強調了當公司籌集額外資本時，較高利息支出的前景，這可能會進一步壓力盈利能力。

Super Micro Computer specializes in servers designed for artificial intelligence applications. The company has benefited from the booming demand for AI infrastructure.

超級微型計算機專門研究為人工智能應用設計的服務器。該公司受益於對AI基礎設施的蓬勃發展。

Higher average selling prices for its products have helped to boost revenue growth. This trend appears likely to continue as AI adoption accelerates.

其產品的平均銷售價格較高有助於提高收入增長。隨著AI採用的加速，這種趨勢似乎可能會繼續。

The server maker's fortunes are closely tied to Nvidia, which provides the chips that power Super Micro's systems. Improved supply from Nvidia is expected to support SMCI's growth prospects.

服務器製造商的命運與NVIDIA緊密相關，後者提供了為超級微型系統提供動力的芯片。預計NVIDIA的供應有所改善將支持SMCI的增長前景。