<p><strong>超微电脑</strong>(SMCI 1.12%) 的股票在上周交易中下跌。根据 S&amp;P 全球市场情报的数据，该公司的股价在周五收盘时较前一周收盘下跌了 13.3%。</p>
<p>由于美联储的利率消息导致投资者调整对股票的看法，超微的股价在上周交易中下跌。尽管美联储如市场预期实施了 25 个基点的降息，但主席杰罗姆·鲍威尔的评论让投资者感到不安。</p>
<h2>美联储的利率前景引发超微股票抛售</h2>
<p>美联储在周三召开了最新会议，并进行了自 9 月以来的第三次降息。这一举措将基准利率降低至 4.25%，低于 2023 年 7 月首次设定的 5.25% 的近期高点。虽然提高利率是对抗通货膨胀的一种方式，但它们往往会导致股市表现疲软。</p>
<p>此前，美联储曾表示预计明年将进行四次每次 25 个基点的降息。然而，在周三的会议上，中央银行当局表示现在预计在 2025 年只会进行两次这样的降息。前景的变化引发了一轮大规模的抛售，依赖增长和投机前景的公司遭遇了较大的估值回撤。超微的股价在这一周的交易中一度下跌了 16.3%，但随后有所反弹。</p>
<h2>超微的下一步是什么？</h2>
<p>周五，《信息》发布了一份报告，称美国商务部已对 <strong>英伟达</strong> 用于人工智能（AI）应用的先进图形处理单元（GPU）如何流入中国展开调查。由于两国之间的紧张关系，美国实施了出口禁令，禁止将先进的 AI 处理器和半导体制造设备出售给中国。</p>
<p>根据报告，英伟达已要求包括超微电脑和 <strong>戴尔</strong> 在内的主要服务器公司调查可能发生的来自东南亚客户的转售情况。这些调查可能为超微带来另一个重大风险因素。</p>
<p>虽然尚未确认，但有传言和消息称，中国通过购买超微的服务器获得了英伟达的先进处理器。此外，《华尔街日报》在 10 月报道，美国司法部已对超微展开调查。尽管大多数猜测认为该调查集中在公司潜在的会计不规范上，但一些投资者认为出口禁令的违反也可能发挥了作用。</p>
<p>超微表示将于 2 月 25 日前提交其延迟的 10-K 报告，结果将受到密切关注。如果公司提交的报告没有对之前提交的财务结果进行实质性重述，其股价可能会飙升。另一方面，如果公司的新财务审计师发现之前报告的结果需要大幅下调，股价可能会暴跌。</p>

超微电脑

<p>超微电脑的股票上周下跌了 13.3%，受到美联储降息和市场情绪变化的影响。美联储对未来降息的修订展望引发了抛售，特别是对像超微电脑这样的依赖增长的股票产生了影响。此外，针对与英伟达 GPU 相关的潜在出口违规行为的调查以及美国司法部的调查进一步增加了风险。超微电脑计划在 2 月 25 日前提交其延迟的 10-K 报告，这可能会根据调查结果对其股价产生重大影响</p>

<p><strong>Super Micro Computer</strong>(SMCI 1.12%) stock lost ground over the last week of trading. The company's share price closed out Friday's session down 13.3% from the previous week's close, according to data from S&amp;P Global Market Intelligence.</p>
<div class="lb-trans"><p><strong>超微电脑</strong>(SMCI 1.12%) 的股票在上周交易中下跌。根据 S&amp;P 全球市场情报的数据，该公司的股价在周五收盘时较前一周收盘下跌了 13.3%。</p>
</div><p>Supermicro's share price fell over the last week of trading as interest rate news from the Federal Reserve caused investors to shift their approach to stocks. While the Fed delivered the 25-basis-point interest rate cut that the market had anticipated, Chair Jerome Powell gave commentary that spooked investors.</p>
<div class="lb-trans"><p>由于美联储的利率消息导致投资者调整对股票的看法，超微的股价在上周交易中下跌。尽管美联储如市场预期实施了 25 个基点的降息，但主席杰罗姆·鲍威尔的评论让投资者感到不安。</p>
</div><h2>The Fed's rate outlook spurs sell-offs for Supermicro stock</h2>
<div class="lb-trans"><h2>美联储的利率前景引发超微股票抛售</h2>
</div><p>The Fed held its latest meeting on Wednesday and delivered its third rate cut since September. The move lowered the benchmark interest rate to 4.25%, which is down from the recent high of 5.25% first established in July 2023. While higher interest rates are a way to combat inflation, they tend to produce weaker performance for the stock market.</p>
<div class="lb-trans"><p>美联储在周三召开了最新会议，并进行了自 9 月以来的第三次降息。这一举措将基准利率降低至 4.25%，低于 2023 年 7 月首次设定的 5.25% 的近期高点。虽然提高利率是对抗通货膨胀的一种方式，但它们往往会导致股市表现疲软。</p>
</div><p>Previously, the Fed had indicated that it expected to serve up four rate cuts of 25 basis points each next year. With its Wednesday meeting, the central banking authority said that it now expects to deliver only two cuts of that size in 2025. The change in outlook spurred a round of big sell-offs, and companies with growth-dependent and speculative outlooks saw outsized valuation pullbacks. Supermicro's share price had been down as much as 16.3% in the week's trading following the news, but it managed to see a bit of rebound recovery.</p>
<div class="lb-trans"><p>此前，美联储曾表示预计明年将进行四次每次 25 个基点的降息。然而，在周三的会议上，中央银行当局表示现在预计在 2025 年只会进行两次这样的降息。前景的变化引发了一轮大规模的抛售，依赖增长和投机前景的公司遭遇了较大的估值回撤。超微的股价在这一周的交易中一度下跌了 16.3%，但随后有所反弹。</p>
</div><h2>What's next for Supermicro?</h2>
<div class="lb-trans"><h2>超微的下一步是什么？</h2>
</div><p>On Friday, The Information published a report stating that the U.S. Department of Commerce had opened a probe into how <strong>Nvidia</strong>'s advanced graphics processing units (GPUs) used for artificial intelligence (AI) applications had wound up in China. Due to rising tensions between the two countries, the U.S. has export bans that prevent advanced AI processors and semiconductor manufacturing equipment from being sold to China.</p>
<div class="lb-trans"><p>周五，《信息》发布了一份报告，称美国商务部已对 <strong>英伟达</strong> 用于人工智能（AI）应用的先进图形处理单元（GPU）如何流入中国展开调查。由于两国之间的紧张关系，美国实施了出口禁令，禁止将先进的 AI 处理器和半导体制造设备出售给中国。</p>
</div><p>According to the report, Nvidia has asked major server companies including Super Micro Computer and <strong>Dell</strong> to look into potential pass-through sales that could have occurred from customers in Southeast Asia. The investigations could present yet another significant risk factor for Supermicro.</p>
<div class="lb-trans"><p>根据报告，英伟达已要求包括超微电脑和 <strong>戴尔</strong> 在内的主要服务器公司调查可能发生的来自东南亚客户的转售情况。这些调查可能为超微带来另一个重大风险因素。</p>
</div><p>While nothing has been confirmed, there have been rumors and rumblings that China was gaining access to Nvidia's advanced processors by purchasing Supermicro's servers. Additionally, <em>The Wall Street Journal</em> reported in October that the U.S. Department of Justice had opened a probe into Supermicro. While most speculation suggested that the reported probe was centered around potential accounting irregularities at the company, some investors suggested that a breach of the export ban could also be playing a role.</p>
<div class="lb-trans"><p>虽然尚未确认，但有传言和消息称，中国通过购买超微的服务器获得了英伟达的先进处理器。此外，《华尔街日报》在 10 月报道，美国司法部已对超微展开调查。尽管大多数猜测认为该调查集中在公司潜在的会计不规范上，但一些投资者认为出口禁令的违反也可能发挥了作用。</p>
</div><p>Supermicro says that it will be filing its delayed 10-K report by Feb. 25, and the results will be under the microscope. If the company delivers a report that has no substantial restating of previously filed financial results, its share price could soar. On the other hand, the stock could plummet if the company's new financial auditor finds that previously reported results require significant downward revisions.</p>
<div class="lb-trans"><p>超微表示将于 2 月 25 日前提交其延迟的 10-K 报告，结果将受到密切关注。如果公司提交的报告没有对之前提交的财务结果进行实质性重述，其股价可能会飙升。另一方面，如果公司的新财务审计师发现之前报告的结果需要大幅下调，股价可能会暴跌。</p>
</div>

Why Super Micro Computer Stock Plummeted This Week

- Super Micro Computer 股价在上周交易中下跌 13.3%。  
- 美联储降息及对未来降息的预期变化引发投资者抛售。  
- 美国商务部对 Supermicro 的调查可能增加公司风险。  

为什么超微电脑的股票本周大幅下跌