On July 29, AXT Inc fell 8.3% in regular trading, trading at $39.21/share, with turnover of approximately $87.72 million.

On the news front, the optical communication sector extended the prior session's broad selloff triggered by Corning's disappointing Q3 guidance, whose core sales forecast midpoint of $49.5 billion came in below consensus expectations. The sector-wide weakness dragged down optical communication names broadly. Additionally, B. Riley on July 28 slashed its price target on AXT from $73 to $52, a reduction of nearly 29%, while maintaining a Neutral rating.

AXT Inc is scheduled to report Q2 earnings after market close on July 30, with consensus estimates calling for revenue of approximately $34.09 million, representing 72.36% year-over-year growth, and adjusted EPS of $0.07. The proximity of the earnings window, combined with the target price downgrade and sector-wide pressure, intensified profit-taking among holders who had accumulated gains during the stock's prior rally driven by InP substrate demand tied to AI data center buildouts.

(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.)