On July 31, Silicon Motion Technology rose 5.06% overnight, trading at 267.5 USD/share, with turnover of 1.2万 USD. The stock continued its upward momentum following a blockbuster Q2 earnings report released earlier.

The company reported Q2 adjusted EPS of $2.43, beating the analyst consensus of $2.14 by approximately 13.55% and surging 252% year-over-year. Revenue reached $451 million, exceeding the $403.4 million estimate by roughly 11.8% and growing 127% year-over-year. Adjusted gross margin came in at 50.2%. More notably, Q3 revenue guidance of $519 million to $541 million far surpassed the market consensus of $432.1 million, driven by broad-based growth in embedded, automotive, and AI-related storage demand.

The stock had previously declined over 15% following Morgan Stanley warnings that the AI-driven memory cycle was approaching a peak and concerns over competitive shifts from expanding global storage capacity. The substantial earnings beat and forward guidance well above expectations have served as a powerful catalyst for share price recovery.

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