AXT’s Q1 revenue halved year-on-year

What happened

AXT Inc reported Q1 2023 revenue of $19.4M, down 51.1% year-on-year and below guidance, indicating severe demand weakness for its compound semiconductor substrates. The decline reflects ongoing softness in end markets, particularly consumer electronics and datacom. Bearish: This significant revenue drop signals continued oversupply and pricing pressure for GaAs, InP, and Ge substrates, suggesting traders should be cautious on related material spot prices.

Impact and signal

Affected components and suppliers

Source and time

Source: Semiconductor Today · 5/11/2023 · View original source