Super Micro Computer (SMCI -2.60%) stock is surging again Tuesday. The company's share price was up 11.8% as of 1:30 p.m. ET and had been up as much as 15.4% earlier in the daily session.

The deadline for filing Supermicro's delayed 10-K report is now one week away, and investors are betting that the annual results filing will arrive without any major problems. The server specialist's share price is now up roughly 73.5% over the last month.

Supermicro stock surges ahead of 10-K filing

According to the business update it published last week, Supermicro is on track to publish the 10-K report for its last fiscal year before Feb. 25. The company's 2024 fiscal year closed on June 30, but the company delayed the filing of its annual report due to concerns about the company's accounting practices that were raised in a short-seller report from Hindenburg Research.

Then in October, Ernst & Young resigned as Supermicro's results auditor -- citing concerns that it could not rely on statements made by management or the independence of the company's audit committee. BDO has since signed on as the artificial intelligence (AI) server company's auditor, and it looks like Supermicro is on the verge of returning to filing regularly scheduled, audited results.

What comes next for Supermicro?

With submission of the report to the Securities and Exchange Commission (SEC) now on the very near horizon, investors are piling into the stock in hopes that the company won't issue any significant downward revisions for previously reported business results. For better or worse, Supermicro stock is poised to make some big moves in conjunction with that 10-K report. Setting aside the uncertainty surrounding the SEC filing, the company's outlook appears promising.

With the fiscal Q2 update it issued last month, Supermicro guided for sales between $23.5 billion and $25 billion in its current fiscal year -- which marked a significant downward revision from its previous target for sales between $26 billion and $30 billion. On the other hand, the company said it expects sales of $40 billion for fiscal 2026.