Stock Track | ASMPT Soars 6.96% Intraday on Strong Earnings and Surging AI Demand

Stock Track04-23

ASMPT's stock surged 6.96% during Thursday's intraday session, extending its recent strong performance.

The sharp move follows the chip equipment maker's release of better-than-expected first-quarter earnings and robust guidance, driven by sustained demand related to artificial intelligence. The company reported first-quarter sales of $507.9 million, surpassing forecasts, and projected second-quarter revenue between $540 million and $600 million, which also exceeded market expectations.

Group bookings for the quarter reached $727 million, the highest level in four years, with management indicating elevated levels could continue next quarter. Analysts cited strong demand for advanced packaging—a critical element for AI chips—as a key growth driver. The company is also finalizing evaluation plans for its thermal compression bonding tools with a major memory chipmaker, a development that could become a meaningful long-term catalyst.

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