On July 14, AXT Inc rose 9% in pre-market trading, trading at approximately $54.97/share, with turnover of $14.2 million. The rebound follows two consecutive sessions of sharp declines totaling over 16%, as the stock fell 8.09% and 8.44% on July 10 and July 13 respectively.
On the news front, the semiconductor equipment sector staged a broad recovery, with Applied Materials up 4.99%, KLA up 4.57%, Lam Research up 3.96%, Teradyne up 3.78%, and ASML up 2.63%, providing systematic sector tailwinds. The prior selloff was attributed to sector-wide de-risking amid concerns over crowded AI hardware trades, combined with profit-taking on AXT's earlier rally driven by optical communications catalysts.
Fundamental support remains intact, including a Master Development and Supply Agreement with Coherent effective June 25, and a long-term indium phosphide wafer supply contract between subsidiary Tongmei and Nanjing Casela Technologies worth RMB 173 million for 2027. These factors attracted capital to buy the dip following the oversold conditions.
(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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