Movement Alert｜AXT Inc Falls 8.09% in Regular Trading, Semiconductor Equipment Sector Broadly Weak After Multi-Day Rally

Market Focus07-10

On July 10, AXT Inc fell 8.09% in regular trading, trading at $56.95/share, with turnover of $51.38 million.

The semiconductor equipment sector saw broad weakness during the session, with Applied Materials down 0.97%, ASML down 0.79%, Lam Research down 2.11%, KLA down 1.82%, and Teradyne down 3.51%. AXT's decline significantly outpaced sector peers, reflecting profit-taking pressure following a multi-day surge driven by multiple positive catalysts.

In the preceding sessions, AXT had rallied sharply after its subsidiary Beijing Tongmei signed a three-year 6-inch indium phosphide wafer substrate supply agreement with Coherent — an NVIDIA CPO supply partner — receiving approximately $22.29 million in prepayment. Additionally, the company confirmed on July 8 that subsidiary Tongmei had formally withdrawn its STAR Market IPO application, removing split-listing uncertainty. These catalysts had driven the stock from approximately $56 to above $63 within days, setting the stage for the current pullback amid broader sector softness.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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