On June 2, Tower Semiconductor rose 5.33% in regular trading, trading at 276.79 USD/share, with trading volume of $174 million. The rebound was driven by the continued digestion of a key customer's formal denial of silicon photonics yield rumors, combined with broad semiconductor sector strength.
On the news front, core customer InnoLight previously issued a formal statement categorizing market rumors regarding Tower's Fab 9 factory 1.6T silicon photonics chip yield issues as maliciously fabricated false information intended to manipulate stock prices. Tower also responded that process adjustments are industry standard practice, do not affect long-term customer relationships or capacity expansion plans, and noted that 800G silicon photonics chip yields have already reached high levels while 1.6T remains in normal iteration.
The semiconductor sector rallied broadly, with Marvell Technology surging 25.31%, Broadcom up 4.77%, and NVIDIA up 2.01%, creating positive sector momentum that further supported Tower's recovery. The stock had previously fallen over 19% from its 52-week high of $302.86, and the clarification of rumor-driven concerns helped ease selling pressure from profit-taking.
(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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