AXT Inc is trading 8.7% down at $101.06 as the stock undergoes a pullback following a sharp multi-day rally driven by AI data center optimism.
- The stock recently spiked after Northland raised its price target to $125, highlighting strengthening demand in the AI and optical sectors.
- Today's decline appears to be driven by profit-taking following the June 10–12 surge rather than any fresh company-specific news.