On July 17, Time Interconnect Technology declined 7.34% in regular trading, trading at HK$14.65/share, with turnover of HK$42.30 million.
The decline was driven by a continuation of the global tech stock selloff, as escalating US-Iran tensions triggered risk-off sentiment across markets. This was compounded by bearish developments including Meta's plan to sell idle computing capacity and Blackstone's QTS terminating data center projects worth over US$100 billion, intensifying market concerns over AI infrastructure overheating and computing power oversupply.
As a core AI optical interconnect target, Time Interconnect Technology had accumulated significant gains from April through June, with high trading crowdedness in the AI computing and optical communication sectors. The confluence of external negative catalysts prompted concentrated profit-taking. Notably, multiple brokerages had recently initiated coverage with buy ratings and target prices of HK$31-32.5, and the company issued a positive profit alert forecasting 150%-170% H1 net profit growth — yet the broader macro headwinds and sector rotation pressure outweighed these fundamentals in the near term.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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