Supermicro expectations lower after selloff, says JPMorgan

JPMorgan trimming estimates for the company’s fiscal Q3 revenue to track in line with the high end of its guidance, and trimmed Q4 revenue to represent a “more conservative sequential ramp” from Q3 to Q4. The firm now assumes a less steep ramp in revenue through the year but its long-term expectations for Supermicro’s revenues and market share as part of the overall artificial intelligence server market remain unchanged. It believes investor expectatoins are lower after the stock’s pullback and keeps an Overweight rating on the name with a $1,150 price target.