AXT is trading at $68.79, down 4.01%, as elevated yields and oil weigh on chip stocks amid a 2.52% regular-session decline in the semiconductor sector.
- Optical communications shares rallied premarket after Lumentum’s CEO said AI data-center demand had booked its optical-component capacity through early 2029; AXT was among the peers rising.
- No AXT-specific catalyst for the current decline has surfaced; shares had also fallen 10.19% on October 8, extending a three-session losing streak.