From Nasdaq: 2024-04-30 12:23:00

AXT Inc (AXTI) will report first-quarter 2024 results on May 2 with expected net sales revised to $22.4-$22.7 million, surpassing prior guidance of $20-$22 million. The Zacks Consensus Estimate for revenues is $21 million, while non-GAAP earnings are projected at 6-8 cents per share, remaining consistent with the past 30 days.

Ahead of the announcement, AXTI’s performance is expected to benefit from rising demand in various sectors like AI, data centers, and high-power lasers. The company’s substrates are well-positioned to meet the increasing need for data transfer and processing, particularly in AI-related applications. Diversification in customer base and demand in HBT applications are also contributing factors.

Although AXTI has an Earnings ESP of 0.00% and a Zacks Rank #3, stocks like Arista Networks (ANET), NVIDIA (NVDA), and Docebo (DCBO) show promising potential. ANET has an Earnings ESP of +2.49% and a Zacks Rank #1, while NVDA and DCBO have Earnings ESP of +2.50% and +8%, respectively.

Zacks analysts highlight an American AI company with significant upside potential, attracting notable clients like BMW and GE. With the possibility of quadrupling in the next year, this stock is positioned for remarkable growth. For more stock recommendations and insights, visit Zacks Investment Research.



Read more at Nasdaq: AXT (AXTI) to Announce Q1 Earnings: What’s in the Cards?