Seeking Alpha汇总多只美股分析师评级调整，SMCI与ASML上调、TSLA与AXP下调

Recent analyst actions on Seeking Alpha highlight significant rating changes across the technology and financial sectors. Super Micro Computer (SMCI) and ASML Holding (ASML) have received upgrades as analysts point to strong AI-driven demand and improved fundamentals. Meanwhile, Tesla (TSLA) and American Express (AXP) face downgrades amid margin pressures and valuation concerns, respectively.
Super Micro Computer (SMCI): Upgrade to Buy by Pythia Research. The analyst reversed a previous sell rating after preliminary Q4 results showed gross margins of 15%-17%, nearly double guidance, alongside new orders exceeding $60 billion indicating exceptionally strong AI infrastructure demand.
“I consider the preliminary report as much more positive than its revenue misses. The demand appears to be intact, the profitability significantly improved, and management's strategy of transforming into the high-value AI infrastructure provider may finally be reflected in the financial reports.”
ASML Holding (ASML): Upgrade to Buy by JR Research. The analyst cites a re-energized AI growth plan with multi-year clarity in net system sales outlook, noting that high NA EUV systems now represent more than 15% of total EUV revenue while China continues strong DUV purchases.
“Despite the recent pullback, I think it's also crucial not to understate how ASML has outperformed the market in the past year. Crucially, it is still up almost 150% through last week. And, I must also emphasize that I have not seen any worrying downside bias in ASML's pullback that suggests that we are finally at a peak euphoria state that I previously indicated.”
Tesla (TSLA): Downgrade to Hold by The Asian Investor. Despite a strong Q2 delivery rebound, the analyst highlights that gross margin fell to 16.8% with negative free cash flow of $1.1 billion due to a 142% year-over-year surge in AI-driven capital expenditures, missing EPS estimates by $0.21.
“Tesla’s second-quarter earnings, released last week, were a major disappointment, however, given that the EV company did not fulfill my gross margin expectations and heavy CapEx weighed on Tesla's financial performance. While I am bullish on the robotics market and see growing AI returns for early movers in the humanoid industry, I believe the massive EPS disappointment last week warrants a downgrade to Hold.”
American Express Company (AXP): Downgrade to Hold by Grassroots Trading. While Q2 growth was driven by existing customers consolidating more spending onto Amex cards, the analyst notes that shares now trade well above historical fair value, with strong execution already reflected in the current price.
“In hindsight, the "safe" part of my thesis was right, but the risks prevented the stock from generating any real growth or momentum. Now, after getting up to speed post the Q2 2026 earnings, I’m shifting to neutral not because the business has weakened, but because the stock price has gotten ahead of what the fundamentals currently justify.”