Goldman Cautions on Super Micro Despite Favorable AI Server Outlook

Goldman Sachs analysts initiated neutral rating on Super Micro Computer (SMCI) stock with $941 price target, implying 17% downside from current $1,140 price
SMCI stock up over 1,000% in past year due to strengths in high-performance servers and status as "AI winner"
Goldman thinks positive catalysts already priced into sky-high valuation of 52x earnings
Explosive gains push SMCI valuation to more speculative levels, but business outlook very favorable
High risk tolerance investors could still see substantial long-term payoffs, but balanced approach advised given dramatic valuation run-up