On June 1, AXT Inc fell 5.01% in pre-market trading, trading at $97.98/share, with trading volume of approximately $8.81 million, extending its pattern of pullbacks from recent highs.

On the news front, the stock had previously surged over 16% on May 22 after Q1 earnings beat expectations — revenue grew 38.7% year-over-year with losses narrowing significantly — driven by strong AI optical communication demand, pushing the stock to a new all-time high. Since then, sustained profit-taking pressure has weighed on shares across multiple consecutive trading sessions. Today, the broader semiconductor equipment sector is also trading lower, with Applied Materials down 1.56%, Lam Research down 2.02%, ASML down 1.72%, and KLA-Tencor down 1.13%, further intensifying selling pressure on the stock.

Additionally, market concerns over the evolution of silicon photonics technology potentially weakening long-term demand for indium phosphide substrates have added a layer of technical uncertainty to the stock's outlook.

(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.)