<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>超微電腦（SMIC），通常被稱為 Supermicro，已經從今年最受歡迎的公司之一轉變為墮落的明星。在 5 月份達到 1227 美元的最高點後，股價暴跌超過 50%，跌至 607 美元，因為對其增長和估值的擔憂持續存在。</p>
<h2>超微電腦的增長放緩</h2>
<p>超微電腦今年在華爾街成為突破性明星，因為其增長加速，受益於人工智能熱潮。在其 5 月份的高峰時，其市值超過 670 億美元，這一數字現已降至 350 億美元。</p>
<p>超微電腦的增長受到對人工智能解決方案持續需求的推動。像亞馬遜、微軟、谷歌和 IBM 這樣的數據中心運營商每個季度都在花費數十億美元來建設和擴展其設施。其最近的業績顯示，微軟在第二季度可能在人工智能投資上花費超過 134 億美元。</p>
<p>超微電腦是數據中心行業的主要供應商，在那裏提供服務器和存儲解決方案、構建模塊、網絡和其他工作站解決方案。</p>
<p>最近的回落發生在公司發佈強勁但低於預期的財務業績後。這些數字顯示，其營收增長了 143%，達到了 53 億美元以上，高於其在 2021 財年實現的 51 億美元。</p>
<p>超微電腦的年度營收躍升至 149 億美元以上，比上一財年增長了 110%。這一表現使其成為行業中增長最快的公司之一。</p>
<p>最重要的是，管理層認為公司還有更多增長空間。其未來指引稱其年度營收將在 260 億美元至 300 億美元之間。我相信其營收將高於這一數字，因為該公司一直以來都非常保守。</p>
<p>超微電腦增長的核心要素是其盈利。年淨利潤從 2019 年的 8400 萬美元增長到上一財年的 12 億美元以上。雖然其毛利率僅為 14%，但公司能夠實現 8% 的淨利潤率。</p>
<p>隨着公司完成其在聖何塞、台灣和馬來西亞的製造設施等投資，其利潤率增長可能會持續。</p>
<h2>SMCI 是一家被低估的公司</h2>
<p>在許多公司看似被高估的時代，超微電腦似乎是最被低估的之一。</p>
<p>其市值約為 350 億美元，而其年度營收已從 2019 年的 33 億美元增長到 149 億美元以上。公司預計本財年的年度營收將超過 300 億美元，接下來的財年將達到 330 億美元。</p>
<p>這意味着其前瞻性市銷率僅為 1.2，低於其他硬件公司。例如，英偉達的前瞻性市銷率為 25.8，而 AMD 為 9.8。</p>
<p>其他指標顯示該公司非常便宜。其前瞻性市盈率為 20.49，低於行業中位數 28.8。根據 FactSet 的數據，標普 500 指數的前瞻性市盈率為 21，其盈利增長為 10.8%。</p>
<p>因此，對於一個銷售和盈利翻番的公司來説，前瞻性市盈率 20 似乎是一個便宜貨。</p>
<p>事實上，大多數分析師預計超微電腦的股價將繼續表現良好。平均股價預估為 874 美元，比當前水平高出 42%。</p>
<h2>英偉達盈利在即</h2>
<p>然而，SMCI 股票存在重大風險。正如我們之前所看到的，當需求旺盛時，公司往往會加大產品供應。這在半導體行業發生過，因為疫情後出現短缺，導致需求激增。</p>
<p>風險在於這種增長可能導致庫存增加，從而在未來降低其利潤率。事實上，最近的數據顯示，其庫存從 3 月季度的 412 億美元增至 44 億美元以上。</p>
<p>SMCI 股價的下一個關鍵推動因素將是 8 月 28 日英偉達的盈利報告，這將展示數據中心需求是否仍在上升。</p>
<h2>超微電腦股價分析</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>從技術上看，SMCI 股價似乎走勢不佳。從 5 月的 1227 美元高點下跌至目前的 600 美元。股價仍低於 671.52 美元的關鍵支撐位，即 4 月的最低點。</p>
<p>該股票還將形成死亡交叉圖表模式，即 50 日和 200 日指數移動平均線相交。</p>
<p>因此，目前存在超微電腦股價可能繼續承壓的風險，特別是如果英偉達發佈弱結果。然而，從長期來看，隨着投資者尋找低價股，該股票可能會有一次史詩般的迴歸。</p>
<p>本文來源於 Invezz，原文鏈接：Cheap Supermicro (SMCI) stock could enter beast mode soon</p>

超微電腦

<p>超微電腦（SMCI）股票價值急劇下跌，自 5 月份的峯值 227 美元以來已下跌超過 50%，原因是市場對增長和估值的擔憂。儘管財務業績強勁，管理層的預測表明持續增長潛力，年收入預期在 34 億美元至 36 億美元之間。SMCI 低於行業平均水平的前瞻性價格/銷售比率為 1.2，使其看起來被低估。然而，庫存增加對利潤率構成風險，未來英偉達的業績可能進一步影響 SMCI 的股票表現</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>超微電腦（SMIC），通常被稱為 Supermicro，已經從今年最受歡迎的公司之一轉變為墮落的明星。在 5 月份達到 1227 美元的最高點後，股價暴跌超過 50%，跌至 607 美元，因為對其增長和估值的擔憂持續存在。</p>
</div><h2>Supermicro’s cooling growth</h2>
<div class="lb-trans"><h2>超微電腦的增長放緩</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>超微電腦今年在華爾街成為突破性明星，因為其增長加速，受益於人工智能熱潮。在其 5 月份的高峰時，其市值超過 670 億美元，這一數字現已降至 350 億美元。</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>超微電腦的增長受到對人工智能解決方案持續需求的推動。像亞馬遜、微軟、谷歌和 IBM 這樣的數據中心運營商每個季度都在花費數十億美元來建設和擴展其設施。其最近的業績顯示，微軟在第二季度可能在人工智能投資上花費超過 134 億美元。</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>超微電腦是數據中心行業的主要供應商，在那裏提供服務器和存儲解決方案、構建模塊、網絡和其他工作站解決方案。</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>最近的回落發生在公司發佈強勁但低於預期的財務業績後。這些數字顯示，其營收增長了 143%，達到了 53 億美元以上，高於其在 2021 財年實現的 51 億美元。</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>超微電腦的年度營收躍升至 149 億美元以上，比上一財年增長了 110%。這一表現使其成為行業中增長最快的公司之一。</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，管理層認為公司還有更多增長空間。其未來指引稱其年度營收將在 260 億美元至 300 億美元之間。我相信其營收將高於這一數字，因為該公司一直以來都非常保守。</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>超微電腦增長的核心要素是其盈利。年淨利潤從 2019 年的 8400 萬美元增長到上一財年的 12 億美元以上。雖然其毛利率僅為 14%，但公司能夠實現 8% 的淨利潤率。</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>隨着公司完成其在聖何塞、台灣和馬來西亞的製造設施等投資，其利潤率增長可能會持續。</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>在許多公司看似被高估的時代，超微電腦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>其市值約為 350 億美元，而其年度營收已從 2019 年的 33 億美元增長到 149 億美元以上。公司預計本財年的年度營收將超過 300 億美元，接下來的財年將達到 330 億美元。</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>這意味着其前瞻性市銷率僅為 1.2，低於其他硬件公司。例如，英偉達的前瞻性市銷率為 25.8，而 AMD 為 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>其他指標顯示該公司非常便宜。其前瞻性市盈率為 20.49，低於行業中位數 28.8。根據 FactSet 的數據，標普 500 指數的前瞻性市盈率為 21，其盈利增長為 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，對於一個銷售和盈利翻番的公司來説，前瞻性市盈率 20 似乎是一個便宜貨。</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>事實上，大多數分析師預計超微電腦的股價將繼續表現良好。平均股價預估為 874 美元，比當前水平高出 42%。</p>
</div><h2>Nvidia earnings ahead</h2>
<div class="lb-trans"><h2>英偉達盈利在即</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 股票存在重大風險。正如我們之前所看到的，當需求旺盛時，公司往往會加大產品供應。這在半導體行業發生過，因為疫情後出現短缺，導致需求激增。</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>風險在於這種增長可能導致庫存增加，從而在未來降低其利潤率。事實上，最近的數據顯示，其庫存從 3 月季度的 412 億美元增至 44 億美元以上。</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 股價的下一個關鍵推動因素將是 8 月 28 日英偉達的盈利報告，這將展示數據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>超微電腦股價分析</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>從技術上看，SMCI 股價似乎走勢不佳。從 5 月的 1227 美元高點下跌至目前的 600 美元。股價仍低於 671.52 美元的關鍵支撐位，即 4 月的最低點。</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>該股票還將形成死亡交叉圖表模式，即 50 日和 200 日指數移動平均線相交。</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，目前存在超微電腦股價可能繼續承壓的風險，特別是如果英偉達發佈弱結果。然而，從長期來看，隨着投資者尋找低價股，該股票可能會有一次史詩般的迴歸。</p>
</div><p>The post Cheap Supermicro (SMCI) stock could enter beast mode soon appeared first on Invezz</p>
<div class="lb-trans"><p>本文來源於 Invezz，原文鏈接：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.

廉價的超微電腦（SMCI）股票可能很快進入爆發模式