On June 1, AXT Inc fell 8.8% in regular trading, trading at $105.17/share, with trading volume of approximately $145 million, extending its pattern of sharp pullbacks from recent highs.

On the news front, the stock had previously surged over 16% in a single session on May 22 after Q1 earnings beat expectations — revenue grew 38.7% year-over-year with losses narrowing significantly — driven by robust AI optical communications demand. After breaking through its all-time high, sustained profit-taking pressure has emerged across multiple consecutive trading sessions.

Today's semiconductor equipment sector weakness further compounded the selling pressure, with Lam Research down 1.04% and Applied Materials down 0.43%. Additionally, market concerns over silicon photonics technology evolution potentially weakening long-term demand for AXT's core indium phosphide substrates, combined with China's export controls on indium metal impacting the company's shipment rhythm and order conversion capabilities, collectively weighed on share performance.

(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.)