Semiconductor Substrates Manufacturer AXT Warns Sending Stock 14% Lower

AXT Inc, a manufacturer of compound semiconductor substrate wafers is the latest company to warn in the semiconductor segment, $AXTI lowered Q3 revenue guidance to $34-35 million from $39-41 million. The Californian company citing weakening macroeconomic conditions, particularly in the demand environment in China. AXTI stock was down 14.6% in afterhours trading. The stock had closed the day’s regular session up 4.63%, at $7.01 per share. “The preliminary revenue range for the third quarter of 2022 is primarily attributable to weakening macroeconomic … Continue reading “Semiconductor Substrates Manufacturer AXT Warns Sending Stock 14% Lower”