** Shares of Super Micro SMCI.O fall 17.2% to $47.59 in premarket trading

** On Tuesday, the AI server maker missed Q4 estimates as it struggled against bigger server makers in the AI hardware race

** J.P.Morgan trims PT by $1 to $45; maintains stock rating at "neutral"

** Brokerage remains on the sidelines on SMCI, citing near- to medium-term challenges in managing growth and margins, with higher-margin Direct Liquid Cooling Building Block Solutions (DCBBS) opportunities expected to take time to scale

** Revenue for the quarter was $5.76 billion, compared with analysts' average estimate of $5.89 billion, according to data compiled by LSEG

** "The company is on the cusp of benefitting from the ramp in the Blackwell-based server shipments, which are experiencing significantly higher demand than previous generations"- JPM

** On average, stock is rated "hold" by 19 analysts; median PT is $37.97 - data compiled by LSEG

** Up to last close, stock had risen ~88% YTD

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))