Stock Track | Tower Semiconductor Soars 6.42% in Pre-Market on Semiconductor Rebound and Surging AI Optical Communication Demand
Stock Track
May 13
Tower Semiconductor's stock surged 6.42% in pre-market trading, as the semiconductor sector staged a broad recovery.
The rally was driven by strong fundamentals and accelerating growth tied to surging demand for silicon photonics and SiGe processes in the AI optical communication space. The company's recently disclosed quarterly results showed revenue of $440 million and net profit of $80 million, highlighting robust financial performance.
Additionally, Tower Semiconductor's revenue from Chinese clients has reached 35%, with domestic substitution orders continuing to shift its way. Despite plans to triple capacity in the second half of the year, supply remains tight, with customers reportedly prepaying deposits to secure production slots.
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