AI本地部署催热服务器市场！大摩上调CDW(CDW.US)评级并看高IBM(IBM.US)戴尔(DELL.US)目标价

智通财经06-23

智通财经APP获悉，摩根士丹利周二发布报告，由于企业服务器需求旺盛，将CDW(CDW.US)的评级由“中性”上调至“增持”;同时，该行上调了IBM(IBM.US)、戴尔(DELL.US)和新聚思(SNX.US)的目标价。以Erik Woodring为首的分析师团队在报告中指出：“虽然一代人难遇的内存通胀正在给硬件市场带来挑战，但计算领域逆势走强。2025年的溢出更新需求、企业提前采购、OEM供应...

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Morgan Stanley Upgrades CDW (CDW.US) and Looks High on IBM (IBM.US) DELL (DELL.US) Price Target","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/a3817315720cebdaa0004d7fc8b7f692","symbols_score_info":{"IBM":1.92,"DLLL":0.6,"DELL":1.91,"SNX":1.85,"CDW":1.97},"content_text":"智通财经APP获悉，摩根士丹利周二发布报告，由于企业服务器需求旺盛，将CDW(CDW.US)的评级由“中性”上调至“增持”;同时，该行上调了IBM(IBM.US)、戴尔(DELL.US)和新聚思(SNX.US)的目标价。以Erik Woodring为首的分析师团队在报告中指出：“虽然一代人难遇的内存通胀正在给硬件市场带来挑战，但计算领域逆势走强。2025年的溢出更新需求、企业提前采购、OEM供应短缺及市场份额争夺，叠加更多本地推理进入生产环境(聚焦数据安全)，共同推动企业需求呈现刚性。服务器总可寻址市场(TAM)预计2026年同比增长超80%，达到8090亿美元。”具体目标价调整方面，CDW目标价从142美元上调至170美元;获“增持”评级的新聚思目标价大幅上调26%，从271美元升至341美元;同为“中性”评级的IBM和戴尔，目标价分别从225美元上调至267美元、从448美元上调至477美元。尽管摩根士丹利认为当前并非“企业服务器复兴”，但确实发现企业服务器更新换代活动正在以更高价格进行，且市场低估了2026年和2027年的服务器收入增长。Woodring表示：“在我们对企业服务器更新周期的可持续性获得更大信心之前，我们倾向于不追涨‘中性’评级的戴尔和慧与(HPE)，尽管我们认为市场对这两家公司的预测偏低。相反，我们通过‘增持’评级的新聚思和CDW来表达更积极的看法——我们将CDW的评级从‘中性’上调至‘增持’。”企业服务器市场需求增长源于多重因素：云算力稀缺、代理式AI(Agentic AI)的兴起以及本地推理的普及。Woodring称：“据戴尔和慧与披露，4月季度服务器订单同比增长三位数(即100%以上)，充分反映了这一需求。随着越来越多企业意识到：(1)将算力带到数据端而非将数据传输至算力端;(2)采用更小型的开源模型;(3)管理本地数据隐私风险，从长远来看更具成本效益和安全性——企业AI需求有望持续走强。”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"rating","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2645083176","isCrawlerRequest":true}