<p><strong>超微電腦</strong>(SMCI 1.12%) 的股票在上週交易中下跌。根據 S&amp;P 全球市場情報的數據，該公司的股價在週五收盤時較前一週收盤下跌了 13.3%。</p>
<p>由於美聯儲的利率消息導致投資者調整對股票的看法，超微的股價在上週交易中下跌。儘管美聯儲如市場預期實施了 25 個基點的降息，但主席傑羅姆·鮑威爾的評論讓投資者感到不安。</p>
<h2>美聯儲的利率前景引發超微股票拋售</h2>
<p>美聯儲在週三召開了最新會議，並進行了自 9 月以來的第三次降息。這一舉措將基準利率降低至 4.25%，低於 2023 年 7 月首次設定的 5.25% 的近期高點。雖然提高利率是對抗通貨膨脹的一種方式，但它們往往會導致股市表現疲軟。</p>
<p>此前，美聯儲曾表示預計明年將進行四次每次 25 個基點的降息。然而，在週三的會議上，中央銀行當局表示現在預計在 2025 年只會進行兩次這樣的降息。前景的變化引發了一輪大規模的拋售，依賴增長和投機前景的公司遭遇了較大的估值回撤。超微的股價在這一週的交易中一度下跌了 16.3%，但隨後有所反彈。</p>
<h2>超微的下一步是什麼？</h2>
<p>週五，《信息》發佈了一份報告，稱美國商務部已對 <strong>英偉達</strong> 用於人工智能（AI）應用的先進圖形處理單元（GPU）如何流入中國展開調查。由於兩國之間的緊張關係，美國實施了出口禁令，禁止將先進的 AI 處理器和半導體制造設備出售給中國。</p>
<p>根據報告，英偉達已要求包括超微電腦和 <strong>戴爾</strong> 在內的主要服務器公司調查可能發生的來自東南亞客户的轉售情況。這些調查可能為超微帶來另一個重大風險因素。</p>
<p>雖然尚未確認，但有傳言和消息稱，中國通過購買超微的服務器獲得了英偉達的先進處理器。此外，《華爾街日報》在 10 月報道，美國司法部已對超微展開調查。儘管大多數猜測認為該調查集中在公司潛在的會計不規範上，但一些投資者認為出口禁令的違反也可能發揮了作用。</p>
<p>超微表示將於 2 月 25 日前提交其延遲的 10-K 報告，結果將受到密切關注。如果公司提交的報告沒有對之前提交的財務結果進行實質性重述，其股價可能會飆升。另一方面，如果公司的新財務審計師發現之前報告的結果需要大幅下調，股價可能會暴跌。</p>

超微電腦

<p>超微電腦的股票上週下跌了 13.3%，受到美聯儲降息和市場情緒變化的影響。美聯儲對未來降息的修訂展望引發了拋售，特別是對像超微電腦這樣的依賴增長的股票產生了影響。此外，針對與英偉達 GPU 相關的潛在出口違規行為的調查以及美國司法部的調查進一步增加了風險。超微電腦計劃在 2 月 25 日前提交其延遲的 10-K 報告，這可能會根據調查結果對其股價產生重大影響</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>超微電腦</strong>(SMCI 1.12%) 的股票在上週交易中下跌。根據 S&amp;P 全球市場情報的數據，該公司的股價在週五收盤時較前一週收盤下跌了 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>由於美聯儲的利率消息導致投資者調整對股票的看法，超微的股價在上週交易中下跌。儘管美聯儲如市場預期實施了 25 個基點的降息，但主席傑羅姆·鮑威爾的評論讓投資者感到不安。</p>
</div><h2>The Fed's rate outlook spurs sell-offs for Supermicro stock</h2>
<div class="lb-trans"><h2>美聯儲的利率前景引發超微股票拋售</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>美聯儲在週三召開了最新會議，並進行了自 9 月以來的第三次降息。這一舉措將基準利率降低至 4.25%，低於 2023 年 7 月首次設定的 5.25% 的近期高點。雖然提高利率是對抗通貨膨脹的一種方式，但它們往往會導致股市表現疲軟。</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，美聯儲曾表示預計明年將進行四次每次 25 個基點的降息。然而，在週三的會議上，中央銀行當局表示現在預計在 2025 年只會進行兩次這樣的降息。前景的變化引發了一輪大規模的拋售，依賴增長和投機前景的公司遭遇了較大的估值回撤。超微的股價在這一週的交易中一度下跌了 16.3%，但隨後有所反彈。</p>
</div><h2>What's next for Supermicro?</h2>
<div class="lb-trans"><h2>超微的下一步是什麼？</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>週五，《信息》發佈了一份報告，稱美國商務部已對 <strong>英偉達</strong> 用於人工智能（AI）應用的先進圖形處理單元（GPU）如何流入中國展開調查。由於兩國之間的緊張關係，美國實施了出口禁令，禁止將先進的 AI 處理器和半導體制造設備出售給中國。</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>根據報告，英偉達已要求包括超微電腦和 <strong>戴爾</strong> 在內的主要服務器公司調查可能發生的來自東南亞客户的轉售情況。這些調查可能為超微帶來另一個重大風險因素。</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>雖然尚未確認，但有傳言和消息稱，中國通過購買超微的服務器獲得了英偉達的先進處理器。此外，《華爾街日報》在 10 月報道，美國司法部已對超微展開調查。儘管大多數猜測認為該調查集中在公司潛在的會計不規範上，但一些投資者認為出口禁令的違反也可能發揮了作用。</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>超微表示將於 2 月 25 日前提交其延遲的 10-K 報告，結果將受到密切關注。如果公司提交的報告沒有對之前提交的財務結果進行實質性重述，其股價可能會飆升。另一方面，如果公司的新財務審計師發現之前報告的結果需要大幅下調，股價可能會暴跌。</p>
</div>

Why Super Micro Computer Stock Plummeted This Week

- Super Micro Computer 股價在上週交易中下跌 13.3%。  
- 美聯儲降息及對未來降息的預期變化引發投資者拋售。  
- 美國商務部對 Supermicro 的調查可能增加公司風險。  

為什麼超微電腦的股票本週大幅下跌