随着退市风险减弱，超微电脑股价扩大每周涨幅

（彭博社）——超微电脑公司股价的过山车走势可能会持续一段时间，因为投资者正在权衡该公司下一步的行动，以避免被纳斯达克摘牌。

Shares of Super Micro Computer Inc. (NASDAQ:SMCI) soared on Friday as investors continue to weigh the company’s next steps to avoid being delisted by Nasdaq Inc.

超微电脑公司（纳斯达克股票代码：SMCI）的股价周五飙升，投资者继续权衡该公司下一步的行动，以避免被纳斯达克公司摘牌。

The San Jose, California-based firm delayed filing its annual 10-K, following a damaging report earlier this year from short seller Hindenburg Research, and has said it would be late with quarterly reports. The company this week said that it believes it can file its delayed 10-K and 10-Q reports in the period available under Nasdaq rules. If accepted, Super Micro would likely get until mid-February to file.

这家总部位于加利福尼亚州圣何塞的公司在今年早些时候卖空者 Hindenburg Research 发布了一份具有破坏性的报告后，推迟了年度 10-K 报告的提交，并表示将推迟提交季度报告。该公司本周表示，相信可以在纳斯达克规则规定的期限内提交延迟的 10-K 和 10-Q 报告。如果被接受，超微可能会在二月中旬之前提交申请。

Shares of the server maker rose as much as 13% in early trading Friday, extending its weekly gains to about 78%, putting the company on track for its best week on record. The sharp rebound in shares is the latest twist in a saga that saw the stock hit a record high in March before seeing those gains evaporate amid allegations of accounting and governance issues and filing delays.

这家服务器制造商的股价在周五早盘交易中上涨了 13%，将周涨幅扩大至约 78%，使该公司有望创下有记录以来最好的一周表现。股价大幅反弹是该股传奇故事的最新转折，该股在三月份创下历史新高，但由于会计和治理问题以及提交延迟的指控，这些涨幅蒸发了。

The firm’s previous auditor, Ernst & Young LLP, resigned in October, citing concerns over the company’s transparency and governance. Super Micro is also facing a US Department of Justice probe.

该公司的前任审计师安永会计师事务所 (Ernst & Young LLP) 于 10 月辞职，理由是对该公司的透明度和治理感到担忧。超微还面临美国司法部的调查。

Nasdaq must now review and approve the company’s plan, a process that is expected to take about two weeks. If the exchange doesn’t accept the proposal, Super Micro can appeal the decision. Shares will remain listed in the meantime.

纳斯达克现在必须审查并批准该公司的计划，这一过程预计需要大约两周的时间。如果交易所不接受该提议，超微可以对该决定提出上诉。与此同时，股票仍将保持上市状态。

Others on Wall Street are more bullish, seeing Super Micro as too important to be delisted and booted from the S&P 500 Index. The company won inclusion in the benchmark gauge in March, further juicing its staggering returns to that point.

华尔街的其他人则更为乐观，认为超微公司太重要了，不能被除名并从标准普尔 500 指数中剔除。该公司于三月份被纳入基准指数，进一步提高了其惊人的回报率。

“We really think it’s just a complete coin toss right now,” said Larry Tentarelli, chief technical strategist at Blue Chip Daily, of the stock's wild moves. Tentarelli said he previously held shares of Super Micro but sold near the end of July when the stock was in the $80 range.

Blue Chip Daily 首席技术策略师拉里·坦塔雷利 (Larry Tentarelli) 在谈到该股的疯狂波动时表示：“我们确实认为，现在这完全是一次抛硬币。” Tentarelli 表示，他之前持有 Super Micro 的股票，但在 7 月底附近股票价格在 80 美元区间时卖出。

“I sold because the stock was up so much so quickly that I really didn’t see how it could continue to go up from there and I didn’t want to get caught holding the bag if it went down quickly,” he added.

他补充说：“我之所以卖出，是因为该股上涨得如此之快，以至于我真的不知道它如何能够从那里继续上涨，而且我不想在它快速下跌时陷入困境。”

Representatives for Super Micro and Nasdaq declined to comment.

超微和纳斯达克的代表拒绝置评。

Bloomberg Intelligence analyst Woo Jin Ho is reserving judgment on whether Super Micro can recover.

彭博资讯分析师 Woo Jin Ho 对超微能否复苏持保留判断。

“The filing extension gives the company until late February to file the documents, yet the delisting overhang appears likely to persist until it’s compliant,” he wrote. “Given the challenges that Ernst and Young noted working with Super Micro’s board, it’s unclear if BDO will face similar issues.”

他写道：“备案延期让该公司在二月下旬之前提交文件，但退市悬而未决的情况似乎可能会持续到其合规为止。” “鉴于安永会计师事务所指出与 Super Micro 董事会合作所面临的挑战，目前尚不清楚 BDO 是否会面临类似的问题。”

Several other analysts aren’t willing to make a call, with at least seven firms suspending coverage on the stock since the end of October, when previous auditor Ernst & Young LLP resigned, according to data compiled by Bloomberg.

根据彭博社汇编的数据，其他几位分析师不愿做出决定，自 10 月底前审计师安永会计师事务所 (Ernst & Young LLP) 辞职以来，至少有 7 家公司暂停了对该股的研究。

While weighing up Super Micro’s prospects, investors also have their eye on competitors. The company’s woes could be a potential boon to rival server makers including Dell Technologies Inc. (NYSE:DELL), Lenovo Group Ltd. (HK:0992) Wiwynn Corp. (TW:3231), Hon Hai Precision Industry Co. (TW:2317) and Pegatron Corp. (TW:4938), according to Bloomberg Intelligence. Dell shares have risen in November while Super Micro slumped.

在衡量超微前景的同时，投资者也关注竞争对手。该公司的困境可能会给戴尔科技公司（纽约证券交易所股票代码：DELL）、联想集团有限公司（香港股票代码：0992）、纬颖科技（台湾股票代码：3231）、鸿海精密工业股份有限公司（台湾股票代码：3231）等竞争对手的服务器制造商带来潜在的福音。根据 Bloomberg Intelligence 的数据，（2317）和和硕科技（TW：4938）。 11 月份戴尔股价上涨，而超微股价下跌。

On the flip side, with the possibility of a Super Micro delisting now reduced, hardware peers such as Dell may “stand in danger of a stock fade,” Lynx analyst KC Rajkumar wrote.

另一方面，随着超微退市的可能性现已降低，戴尔等硬件同行可能“面临股票下跌的危险”，Lynx 分析师 KC Rajkumar 写道。

“The company's woes have helped buoy Dell shares in recent weeks, but that could quickly change if Super Micro manages to regain its footing,” Rajkumar added.

“最近几周，该公司的困境帮助提振了戴尔股价，但如果超微能够重新站稳脚跟，这种情况可能很快就会改变，”拉吉库马尔补充道。

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