杰富瑞指出，由于市场对可穿戴AI设备所需的高效芯片需求旺盛，Ambiq Micro的股价有望继续攀升。
Ambiq Micro should continue gaining ground thanks to demand for its ultra high efficiency chips used in wearable AI products, but investors are largely ignoring another part of its business that's likely to drive the stock even higher, according to Jefferies.
不过投资者目前尚未充分重视该公司另一项业务，而该业务有望进一步推高股价。
The investment bank began research coverage of Ambiq with a buy rating and $90 price target, 42% above where the stock closed Tuesday.
这家投资银行开始对Ambiq Micro进行研究分析，并给予‘买入’评级，设定的目标价达90美元，较该股周二收盘价高出42%。
Ambiq makes hardware, including systems-on-chips (SoCs) and ultra-low-power platform solutions, for wearable devices equipped with artificial intelligence-powered features.
Ambiq Micro主要生产用于具备AI功能的可穿戴设备的硬件产品，包括系统级芯片及超低功耗解决方案。
But Ambiq is also embracing an AI compute business that should also add value, Jefferies said.
此外，该公司还在积极拓展AI计算业务，预计也将带来显著价值。
"AMBQ is moving from a niche ultra-low-power [microcontroller unit] supplier toward an edge AI compute platform," Jefferies analyst Kevin Garrigan wrote Tuesday in a note to clients.
杰富瑞分析师凯文·加里根在报告中写道：‘Ambiq Micro正从一家专注于超低功耗微控制器的企业，逐步转型为边缘AI计算平台提供商。’
"The market still prices AMBQ on its historical wearable concentration, which we think leaves attractive risk/reward."
他同时指出：‘目前市场仍仅依据该公司以往在可穿戴领域的业务表现来定价，我们认为这使其具备良好的风险收益比。’
Jefferies expects Ambiq to increase its revenue at a compound annual growth rate of 51% between fiscal 2025 and 2028.
据预测，2025至2028财年期间，Ambiq Micro的营收年复合增长率有望达到51%，预计2028年可实现经营层面盈亏平衡。
The company is likely to break even on an operating basis in 2028, the bank said.
目前华尔街分析师普遍看好该股：据LSEG数据显示，在参与评级的7位分析师中，有5位给出‘买入’或‘强力买入’建议，仅2位持‘持有’立场。
The recommendation matches the Wall Street consensus, where five of seven analysts rate Ambiq Micro a buy or strong buy, with two holds, LSEG data shows.
Ambiq Micro于2025年7月通过IPO上市，发行价为每股24美元，主承销商包括美国银行、瑞银集团、尼达姆证券及斯蒂费尔证券。今年以来，该股股价已累计上涨约122%。
Ambiq came public in July 2025 at $24 a share in an IPO led by BofA, UBS, Needham and Stifel. Shares have surged roughly 122% year to date.