Stock Track | SMIC Soars 5.17% Intraday on Strong Q1 Earnings Beat and Upbeat Guidance

Stock Track05-15

SMIC's stock surged 5.17% during intraday trading on Friday, driven by the company's release of better-than-expected first-quarter financial results and optimistic guidance for the current quarter.

The semiconductor foundry reported Q1 2026 sales revenue of $2.505 billion, representing an 11.5% year-over-year increase. The company's gross margin reached 20.1%, exceeding its previous guidance range. Profit attributable to shareholders came in at approximately $197 million.

More significantly, management provided strong Q2 revenue guidance of 14% to 16% sequential growth with gross margin expected between 20% and 22%. The company expressed heightened optimism for its full-year operational performance compared to the previous quarter. Additional reports indicated that SMIC's overseas orders have increased as the AI boom creates capacity shortages in international markets, further supporting the positive sentiment.

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