On July 23, Tower Semiconductor rose 5.04% in regular trading, trading at $262.71/share, with turnover of $76.19 million. The semiconductor sector continued to exhibit broad strength, with SK hynix rising 6.99% and Micron Technology gaining 4.18%, providing supportive momentum for the stock.

The rally extends gains driven by the company's recently announced strategic capacity expansion in Japan. Tower Semiconductor committed $4 billion over three years—including a $1 billion grant from Tokyo—to expand 300mm silicon photonics and silicon germanium wafer production. The company subsequently updated its business model to target $3.6 billion in revenue and $1.2 billion in net profit by 2028, significantly above previous targets of $2.8 billion and $750 million respectively. Wedbush highlighted the stock as undervalued, noting that silicon photonics expansion positions the company favorably within AI infrastructure growth.

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