AXT is trading at $67.16 (11.13% up) following record Q2 results driven by stronger-than-expected demand for indium phosphide used in AI infrastructure.
- Management issued a positive outlook, pointing toward another solid quarter of growth ahead.
- The stock continues to gap higher in heavy momentum trading, extending a sharp two-day rally that began after the July 30 earnings release.
- The move appears to be company-specific, as AXT is significantly outperforming a broader semiconductor sector that is currently trading lower.