AXTI is trading 3.6% down at $66.22 today as the stock undergoes a multi-day pullback following a significant AI-driven rally.
- Shares are consolidating as investors take profits despite a $100 million backlog for indium phosphide wafers tied to AI infrastructure demand.
- The broader technology sector is facing downward pressure, though analysts maintain a positive outlook on the company's long-term growth potential and underlying AI demand story.