On August 19, Advanced fell 9.8% in regular trading, trading at $313.94/share, with turnover of $78.17 million.
On the news front, borrowing costs across multiple developed economies surged to the highest levels since the 2008 financial crisis, with France's 30-year government bond yield touching 4.86% and Germany's 10-year yield hitting its highest since 2011. Heightened concerns over persistently elevated interest rates triggered broad-based selling in technology and high-valuation growth sectors.
The pullback comes after a substantial rally over the prior two weeks, driven by a strong Q2 earnings beat and multiple analyst upgrades. The company reported Q2 adjusted EPS of $2.74, up 82.67% year-over-year and exceeding consensus of $2.21 by approximately 24.5%. Revenue reached $574 million, beating estimates of $544 million. Morgan Stanley raised its price target to $439 maintaining an Overweight rating, while Seaport Global upgraded the stock to Buy with a $410 target. Within the Electronic Equipment and Instruments sector, peers including Keysight (-7.33%) and Ouster (-8.87%) also declined.
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