<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/04/super-micro.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/04/super-micro.jpeg"/></p>
<p>超微电脑（SMIC），通常被称为 Supermicro，已经从今年最受欢迎的公司之一转变为堕落的明星。在 5 月份达到 1227 美元的最高点后，股价暴跌超过 50%，跌至 607 美元，因为对其增长和估值的担忧持续存在。</p>
<h2>超微电脑的增长放缓</h2>
<p>超微电脑今年在华尔街成为突破性明星，因为其增长加速，受益于人工智能热潮。在其 5 月份的高峰时，其市值超过 670 亿美元，这一数字现已降至 350 亿美元。</p>
<p>超微电脑的增长受到对人工智能解决方案持续需求的推动。像亚马逊、微软、谷歌和 IBM 这样的数据中心运营商每个季度都在花费数十亿美元来建设和扩展其设施。其最近的业绩显示，微软在第二季度可能在人工智能投资上花费超过 134 亿美元。</p>
<p>超微电脑是数据中心行业的主要供应商，在那里提供服务器和存储解决方案、构建模块、网络和其他工作站解决方案。</p>
<p>最近的回落发生在公司发布强劲但低于预期的财务业绩后。这些数字显示，其营收增长了 143%，达到了 53 亿美元以上，高于其在 2021 财年实现的 51 亿美元。</p>
<p>超微电脑的年度营收跃升至 149 亿美元以上，比上一财年增长了 110%。这一表现使其成为行业中增长最快的公司之一。</p>
<p>最重要的是，管理层认为公司还有更多增长空间。其未来指引称其年度营收将在 260 亿美元至 300 亿美元之间。我相信其营收将高于这一数字，因为该公司一直以来都非常保守。</p>
<p>超微电脑增长的核心要素是其盈利。年净利润从 2019 年的 8400 万美元增长到上一财年的 12 亿美元以上。虽然其毛利率仅为 14%，但公司能够实现 8% 的净利润率。</p>
<p>随着公司完成其在圣何塞、台湾和马来西亚的制造设施等投资，其利润率增长可能会持续。</p>
<h2>SMCI 是一家被低估的公司</h2>
<p>在许多公司看似被高估的时代，超微电脑似乎是最被低估的之一。</p>
<p>其市值约为 350 亿美元，而其年度营收已从 2019 年的 33 亿美元增长到 149 亿美元以上。公司预计本财年的年度营收将超过 300 亿美元，接下来的财年将达到 330 亿美元。</p>
<p>这意味着其前瞻性市销率仅为 1.2，低于其他硬件公司。例如，英伟达的前瞻性市销率为 25.8，而 AMD 为 9.8。</p>
<p>其他指标显示该公司非常便宜。其前瞻性市盈率为 20.49，低于行业中位数 28.8。根据 FactSet 的数据，标普 500 指数的前瞻性市盈率为 21，其盈利增长为 10.8%。</p>
<p>因此，对于一个销售和盈利翻番的公司来说，前瞻性市盈率 20 似乎是一个便宜货。</p>
<p>事实上，大多数分析师预计超微电脑的股价将继续表现良好。平均股价预估为 874 美元，比当前水平高出 42%。</p>
<h2>英伟达盈利在即</h2>
<p>然而，SMCI 股票存在重大风险。正如我们之前所看到的，当需求旺盛时，公司往往会加大产品供应。这在半导体行业发生过，因为疫情后出现短缺，导致需求激增。</p>
<p>风险在于这种增长可能导致库存增加，从而在未来降低其利润率。事实上，最近的数据显示，其库存从 3 月季度的 412 亿美元增至 44 亿美元以上。</p>
<p>SMCI 股价的下一个关键推动因素将是 8 月 28 日英伟达的盈利报告，这将展示数据中心需求是否仍在上升。</p>
<h2>超微电脑股价分析</h2>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/Super-Micro-Stock-1024x568.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/Super-Micro-Stock-1024x568.png"/></p>
<p>从技术上看，SMCI 股价似乎走势不佳。从 5 月的 1227 美元高点下跌至目前的 600 美元。股价仍低于 671.52 美元的关键支撑位，即 4 月的最低点。</p>
<p>该股票还将形成死亡交叉图表模式，即 50 日和 200 日指数移动平均线相交。</p>
<p>因此，目前存在超微电脑股价可能继续承压的风险，特别是如果英伟达发布弱结果。然而，从长期来看，随着投资者寻找低价股，该股票可能会有一次史诗般的回归。</p>
<p>本文来源于 Invezz，原文链接：Cheap Supermicro (SMCI) stock could enter beast mode soon</p>

超微电脑

<p>超微电脑（SMCI）股票价值急剧下跌，自 5 月份的峰值 227 美元以来已下跌超过 50%，原因是市场对增长和估值的担忧。尽管财务业绩强劲，管理层的预测表明持续增长潜力，年收入预期在 34 亿美元至 36 亿美元之间。SMCI 低于行业平均水平的前瞻性价格/销售比率为 1.2，使其看起来被低估。然而，库存增加对利润率构成风险，未来英伟达的业绩可能进一步影响 SMCI 的股票表现</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/04/super-micro.jpeg" alt="" original-src="https://invezz.com/wp-content/uploads/2024/04/super-micro.jpeg"/></p>
<p>Super Micro Computer (SMIC), popularly known as Supermicro, has transitioned from one of the most beloved companies this year to a fallen angel. After peaking at $1,227 in May, the stock has crashed by over 50% to $607 as concerns about its growth and valuation continued.</p>
<div class="lb-trans"><p>超微电脑（SMIC），通常被称为 Supermicro，已经从今年最受欢迎的公司之一转变为堕落的明星。在 5 月份达到 1227 美元的最高点后，股价暴跌超过 50%，跌至 607 美元，因为对其增长和估值的担忧持续存在。</p>
</div><h2>Supermicro’s cooling growth</h2>
<div class="lb-trans"><h2>超微电脑的增长放缓</h2>
</div><p>Super Micro Computer has been one of the breakout stars in Wall Street this year as its growth accelerated because of the AI hype. At its peak, its May, its market valuation was over $67 billion, a figure that has now dropped to $35 billion.</p>
<div class="lb-trans"><p>超微电脑今年在华尔街成为突破性明星，因为其增长加速，受益于人工智能热潮。在其 5 月份的高峰时，其市值超过 670 亿美元，这一数字现已降至 350 亿美元。</p>
</div><p>Supermicro’s growth has been driven by the ongoing demand for artificial intelligence solutions. Data center operators like Amazon, Microsoft, Google, and IBM are spending billions each quarter to build and scale their locations. Its recent results showed that Micrsoft likely spent over $13.4 billion in AI investments in Q2.</p>
<div class="lb-trans"><p>超微电脑的增长受到对人工智能解决方案持续需求的推动。像亚马逊、微软、谷歌和 IBM 这样的数据中心运营商每个季度都在花费数十亿美元来建设和扩展其设施。其最近的业绩显示，微软在第二季度可能在人工智能投资上花费超过 134 亿美元。</p>
</div><p>Supermicro is a major provider in the data center industry, where it provides servers and storage solutions, building blocks, networking, and other workstation solutions.</p>
<div class="lb-trans"><p>超微电脑是数据中心行业的主要供应商，在那里提供服务器和存储解决方案、构建模块、网络和其他工作站解决方案。</p>
</div><p>The most recent retreat happened after the company published strong but weaker-than-expected financial results. These numbers revealed that its revenue rose by 143% to over $5.3 billion, a figure that was higher than the $5.1 billion that it made in FY 2021.</p>
<div class="lb-trans"><p>最近的回落发生在公司发布强劲但低于预期的财务业绩后。这些数字显示，其营收增长了 143%，达到了 53 亿美元以上，高于其在 2021 财年实现的 51 亿美元。</p>
</div><p>Super Micro Computer’s annual revenues jumped to over $14.9 billion, a 110% increase from what it made in the last financial year. This performance makes it one of the fastest-growing companies in the industry.</p>
<div class="lb-trans"><p>超微电脑的年度营收跃升至 149 亿美元以上，比上一财年增长了 110%。这一表现使其成为行业中增长最快的公司之一。</p>
</div><p>Most importantly, the management believes that it has more room to grow. Its forward guidance calls is that its annual revenue will be between $26 billion and $30 billion. I believe that its revenue will be higher than that since the company has a history of being highly conservative.</p>
<div class="lb-trans"><p>最重要的是，管理层认为公司还有更多增长空间。其未来指引称其年度营收将在 260 亿美元至 300 亿美元之间。我相信其营收将高于这一数字，因为该公司一直以来都非常保守。</p>
</div><p>A core element in Super Micro Computer’s growth is that it is happening profitably. Annual net income rose from just $84 million in 2019 to over $1.2 billion in the last financial year. While its gross margin is just $14%, the company was able to generate a net margin of 8%.</p>
<div class="lb-trans"><p>超微电脑增长的核心要素是其盈利。年净利润从 2019 年的 8400 万美元增长到上一财年的 12 亿美元以上。虽然其毛利率仅为 14%，但公司能够实现 8% 的净利润率。</p>
</div><p>Its margin growth will likely continue as the company completes its investments such as its manufacturing facilities in San Jose, Taiwan, and Malaysia.</p>
<div class="lb-trans"><p>随着公司完成其在圣何塞、台湾和马来西亚的制造设施等投资，其利润率增长可能会持续。</p>
</div><h2>SMCI is an undervalued company</h2>
<div class="lb-trans"><h2>SMCI 是一家被低估的公司</h2>
</div><p>In an era where many companies seem highly overvalued – read my SentinelOne report– Supermicro seems like one of the most undervalued ones.</p>
<div class="lb-trans"><p>在许多公司看似被高估的时代，超微电脑似乎是最被低估的之一。</p>
</div><p>Its market cap stands at around $35 billion while its annual revenue has jumped from $3.3 billion in 2019 to over $14.9 billion. The company anticipates over $30 billion in annual revenue in the current financial year followed by $33 billion in the following one.</p>
<div class="lb-trans"><p>其市值约为 350 亿美元，而其年度营收已从 2019 年的 33 亿美元增长到 149 亿美元以上。公司预计本财年的年度营收将超过 300 亿美元，接下来的财年将达到 330 亿美元。</p>
</div><p>This means that it has a forward price/sales ratio of just 1.2, a figure that is lower than other hardware companies. For example, Nvidia trades at a forward P/S ratio of 25.8 while AMD has 9.8.</p>
<div class="lb-trans"><p>这意味着其前瞻性市销率仅为 1.2，低于其他硬件公司。例如，英伟达的前瞻性市销率为 25.8，而 AMD 为 9.8。</p>
</div><p>Other metrics show that the company is dirt cheap. It has a forward P/E ratio of 20.49, lower than the industry median of 28.8. The S&amp;P 500 index, which had an earnings growth of 10.8% has a forward P/E ratio of 21, according to FactSet <strong>.</strong></p>
<div class="lb-trans"><p>其他指标显示该公司非常便宜。其前瞻性市盈率为 20.49，低于行业中位数 28.8。根据 FactSet 的数据，标普 500 指数的前瞻性市盈率为 21，其盈利增长为 10.8%。</p>
</div><p>As such, for a company that is more than doubling its sales and earnings, a forward P/E ratio of 20 seems like a bargain.</p>
<div class="lb-trans"><p>因此，对于一个销售和盈利翻番的公司来说，前瞻性市盈率 20 似乎是一个便宜货。</p>
</div><p>Indeed, most analysts expect that Super Micro Computer’s stock will continue doing well. The average stock estimate is $874, 42% above the current level.</p>
<div class="lb-trans"><p>事实上，大多数分析师预计超微电脑的股价将继续表现良好。平均股价预估为 874 美元，比当前水平高出 42%。</p>
</div><h2>Nvidia earnings ahead</h2>
<div class="lb-trans"><h2>英伟达盈利在即</h2>
</div><p>Still, SMCI stock has a major risk. As we have seen before, companies tend to ramp up their products when there is robust demand. This happened in the semiconductor industry as shortages led to major demand after the Covid-19 pandemic.</p>
<div class="lb-trans"><p>然而，SMCI 股票存在重大风险。正如我们之前所看到的，当需求旺盛时，公司往往会加大产品供应。这在半导体行业发生过，因为疫情后出现短缺，导致需求激增。</p>
</div><p>The risk is that this growth could lead to higher inventories, which will reduce its margins in the future. Indeed, the most recent numbers showed that its inventory rose to over $4.4 billion from $4.12 billion in the March quarter.</p>
<div class="lb-trans"><p>风险在于这种增长可能导致库存增加，从而在未来降低其利润率。事实上，最近的数据显示，其库存从 3 月季度的 412 亿美元增至 44 亿美元以上。</p>
</div><p>The next key catalyst for the SMCI stock price will be the August 28 Nvidia earnings, which will show whether the data center demand is still rising.</p>
<div class="lb-trans"><p>SMCI 股价的下一个关键推动因素将是 8 月 28 日英伟达的盈利报告，这将展示数据中心需求是否仍在上升。</p>
</div><h2>Super Micro Computer stock price analysis</h2>
<div class="lb-trans"><h2>超微电脑股价分析</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/Super-Micro-Stock-1024x568.png" alt="" original-src="https://invezz.com/wp-content/uploads/2024/08/Super-Micro-Stock-1024x568.png"/></p>
<p>Technically, things seem to be going badly for the SMCI stock price. It has dropped from a high of $1,227 in May to the current $600. It remains below the key support at $671.52, its lowest point in April.</p>
<div class="lb-trans"><p>从技术上看，SMCI 股价似乎走势不佳。从 5 月的 1227 美元高点下跌至目前的 600 美元。股价仍低于 671.52 美元的关键支撑位，即 4 月的最低点。</p>
</div><p>The stock is also about to form a death cross chart pattern, where the 50-day and 200-day Exponential Moving Averages (EMA) cross each other.</p>
<div class="lb-trans"><p>该股票还将形成死亡交叉图表模式，即 50 日和 200 日指数移动平均线相交。</p>
</div><p>Therefore, for now, there is a risk that the Supermicro will remain under pressure, especially if Nvidia publishes weak results. In the long term, however, the stock will likely have an epic comeback as investors go bargain hunting.</p>
<div class="lb-trans"><p>因此，目前存在超微电脑股价可能继续承压的风险，特别是如果英伟达发布弱结果。然而，从长期来看，随着投资者寻找低价股，该股票可能会有一次史诗般的回归。</p>
</div><p>The post Cheap Supermicro (SMCI) stock could enter beast mode soon appeared first on Invezz</p>
<div class="lb-trans"><p>本文来源于 Invezz，原文链接：Cheap Supermicro (SMCI) stock could enter beast mode soon</p>
</div>

Cheap Supermicro (SMCI) stock could enter beast mode soon

- Super Micro Computer (SMIC), known as Supermicro, has seen a significant stock price decline of over 50% from $1,227 to $607 due to concerns about growth and valuation.
- The company's growth was driven by the demand for AI solutions, with major data center operators like Amazon and Microsoft investing billions in this sector.
- Despite recent strong financial results, including a revenue increase to over $5.3 billion, Supermicro is considered undervalued with a forward P/S ratio of 1.2 and a forward P/E ratio of 20.49.

廉价的超微电脑（SMCI）股票可能很快进入爆发模式