-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：我們維持SMCI的目標股價為16美元，本益比為5.5倍，基於2027財年（截至6月）的每股盈餘預期（2.88美元），低於SMCI三年平均本益比（約16倍），原因是該公司面臨聲譽風險與利潤率壓力。我們將2026財年的每股盈餘預期上修0.35美元至2.58美元，將2027財年的預期下修0.11美元至2.88美元，並將2028財年的預期目標定為2.92美元。我們認為，SMCI近期與出口管制違規事件的關聯（美國商務部工業安全局的調查仍在進行中）可能會導致需求下降，而第三季18%的銷售額未達預期（歸因於客戶工廠的準備情況）加劇了這種擔憂。我們也擔心供應商的供貨問題（尤其是在記憶體短缺的情況下），並指出SMCI第三季應付帳款季減100億美元（導致營運現金流出66億美元），顯示客戶變得更加謹慎。目前淨債務為75億美元，而第二季末為7.87億美元，我們認為BIS的調查正在增加SMCI的利息成本，這將開始反映在利潤上。我們認為第三季毛利率的改善（9.9%，季增360個基點）主要是由於產品組合的變化（最大客戶佔銷售額的27%，而第二季為63%），而非結構性改善。
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Viavi Solutions Insider Sold Shares Worth $566,729, According to a Recent SEC Filing
Luke M Scrivanich, Senior Vice President and General Manager, Optical Security and Performance Products, on May 06, 2026, sold 10,693 shares in Viavi Solutions (VIAV) for $566,729. Following the Form 4 filing with the SEC, Scrivanich has control over a total of 39,287 common shares of the company, with 39,287 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/912093/000091209326000048/xslF345X05/form4.xmlPrice: $53.09, Change: $-0.88, Percent Change: -1.63%
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Update: Gold Moves Higher as the Dollar and Yields Retreat Following Reports the Iran War May Be Near an End
(Updates prices.)Gold was higher midafternoon on Wednesday as the U.S. dollar and yields were sharply lower on reports Iran and the United States are closing in on a deal to end their war, while U.S. private-sector hiring surged last month.Gold for June delivery was last seen up US$122.50 to US$4,691.00 per ounce.The gain in the precious metal follows reports, later confirmed by U.S. President Trump, that Iran and the United States are close to a negotiated deal to end hostilities. In a social media post, Trump said the war "will be at an end" and the Strait of Hormuz will reopen to traffic if Iran agrees to a U.S. peace proposal.Oil traded sharply lower on expectations a deal would reopen the Strait of Hormuz, the chokepoint for 20% of daily oil supply from Persian Gulf nations, easing worries over rising inflation and higher interest rates due to the supply shock."Washington is shifting focus to reopening the strait amid foreign pressure and rising domestic opposition to the war," Saxo Bank noted.U.S. private sector hiring surged in April, with the ADP National Employment Report seeing a rise of 109,000 private-sector jobs last month, up from 61,000 in March and above expectations for a rise of 84,000 positions according to Marketwatch.The dollar was sharply lower early, with the ICE dollar index last seen down 0.39 points to 98.05. Treasury yields also fell, with the yield on the U.S. two-year note last seen down 7.4 basis points to 3.876%, while the 10-year note was paying 4.355%, down 7.4 points.
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US Markets
Equity Markets Rise Intraday, Oil Plunges Amid US-Iran Peace Deal Optimism
US benchmark equity indexes were higher intraday, while oil prices tumbled as investors reacted to reports saying that Washington and Tehran are nearing a potential agreement to end the war.The Nasdaq Composite was up 1.6% at 25,726 after midday Wednesday, while the S&P 500 advanced 1.1% to 7,339.3. Both indexes were on track for back-to-back record-high closings. The Dow Jones Industrial Average rose 1% to 49,792.1.Among sectors, industrials was outperforming with a 2.2% gain, while energy saw the steepest drop of 4.1%.West Texas Intermediate crude was down 6.6% at $95.57 per barrel, while Brent slumped 7% to $102.20.The US is nearing a deal with Iran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.The two countries are moving closer to an agreement on a short memorandum to end the war, CNN also reported, citing a regional source familiar with the negotiations."Traders in the US woke up to see some real excitement in the markets today caused by the (Axios) news," Macquarie said in a note. "The good news, for now, is that the same sources that leaked the existence of a deal to Axios said this was the closest the parties had been to an agreement since the war began."US President Donald Trump issued a fresh warning to Iran, saying the "bombing starts" again if a deal is not reached."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a social media post.Iran said it is still reviewing the latest US proposal, according to news reports.US Treasury yields were lower intraday, with the 10-year rate down 7.4 basis points at 4.36% and the two-year rate falling 7.2 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the best performers on the S&P 500. Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 6.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 4.5%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with chipmaking giant to support AI factory buildouts. Corning shares jumped 14%.Arista Networks (ANET) shares tumbled 16%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.Arm (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) are expected to report after the closing bell Wednesday, along with others.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Gold rose 2.8% to $4,695.90 per troy ounce, while silver climbed 5.3% to $77.48 per ounce.
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