On August 3, Advanced rose 6.2% in after-hours trading, trading at $332.83/share, with turnover of $5.33 million. The rally was driven by the company's Q2 earnings release after market close, with market expectations of 28.84% year-over-year revenue growth fueled by data center and semiconductor equipment demand recovery.
In the prior quarter, Advanced reported revenue of $511 million (up 26.30% YoY) and adjusted EPS of $2.09 (up 69.92% YoY), demonstrating continued earnings quality improvement. Industry tailwinds further reinforced sentiment, as peer Lam Research posted 30% YoY quarterly revenue growth with next-quarter guidance significantly above expectations, reflecting accelerating global wafer fab expansion driven by AI demand. Morgan Stanley recently initiated coverage with an Overweight rating and a $421 price target, while consensus target stands at $429.50, suggesting meaningful upside from current levels.
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