On July 10, AXT Inc fell 8.09% in regular trading, trading at $56.95/share, with turnover of $51.38 million.

The semiconductor equipment sector saw broad weakness during the session, with Applied Materials down 0.97%, ASML down 0.79%, Lam Research down 2.11%, KLA down 1.82%, and Teradyne down 3.51%. AXT's decline significantly outpaced sector peers, reflecting profit-taking pressure following a multi-day surge driven by multiple positive catalysts.

In the preceding sessions, AXT had rallied sharply after its subsidiary Beijing Tongmei signed a three-year 6-inch indium phosphide wafer substrate supply agreement with Coherent — an NVIDIA CPO supply partner — receiving approximately $22.29 million in prepayment. Additionally, the company confirmed on July 8 that subsidiary Tongmei had formally withdrawn its STAR Market IPO application, removing split-listing uncertainty. These catalysts had driven the stock from approximately $56 to above $63 within days, setting the stage for the current pullback amid broader sector softness.

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