On July 17, Tower Semiconductor fell 5.01% overnight, trading at $226.0/share, with turnover of $1.0447 million. The decline was primarily driven by broad-based selling across the semiconductor sector, compounded by profit-taking following the stock's sharp rally earlier in the week.
The semiconductor sector experienced widespread declines, with peers Intel falling 4.72%, Advanced Micro Devices down 4.58%, Micron Technology declining 4.47%, Taiwan Semiconductor Manufacturing dropping 3.38%, and NVIDIA losing 2.63%. Tower Semiconductor had previously surged over 20% between July 14 and July 15 after announcing an approximately $3 billion investment to expand 300mm silicon photonics and silicon germanium capacity at its Japan facilities, supported by roughly $1 billion in Japanese government subsidies. The company simultaneously raised its 2028 revenue target to $3.6 billion from $2.8 billion and its net profit target to $1.2 billion from $750 million, representing increases of 29% and 60% respectively. The current pullback reflects sector-wide pressure and partial reversal of those outsized gains.
(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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