Mizuho Lowers Price Target on Super Micro Computer Amid AI Infrastructure Reevaluation

Mizuho Securities has reduced its price target on Super Micro Computer Inc. (SMCI) to $1,250 per share, down from $1,450, signaling a more conservative stance on the stock's near-term trajectory. The adjustment follows a broader reassessment of supply chain dynamics and revenue visibility in the high-growth AI infrastructure segment, where SMCI has been a key player. The downgrade comes amid increasing scrutiny of inventory levels and customer ordering patterns across data center equipment providers. SMCI, which supplies server systems and storage solutions to major cloud service providers, has seen robust demand driven by AI model deployment, yet Mizuho notes potential near-term softening in capital expenditure cycles, particularly among hyperscalers. Key metrics suggest continued strength in underlying fundamentals: SMCI reported a 45% year-over-year revenue increase in its most recent quarter, with server shipments growing 52% year-over-year. However, the firm's adjusted EBITDA margin declined to 12.4%—below prior expectations—due to elevated component costs and logistics delays, prompting the revised outlook. The stock, which has traded above $1,300 per share in early 2026, is now under pressure. Traders are monitoring whether the company can maintain its growth momentum amid margin compression and shifting investment priorities in the AI hardware space. The downgrade may influence portfolio positioning among institutional investors focused on high-velocity tech equities.