Aehr Test Systems Stock Soars on Artificial Intelligence (AI) Acquisition and Better-Than-Expected Annual Guidance
Aehr Test Systems (NASDAQ: AEHR) stock surged 13.4% in after-hours trading on Tuesday, following the semiconductor test and reliability qualification equipment supplier's release of its results for its fourth quarter of fiscal 2024 (ended May 31).
The stock's rise is attributable to Aehr's fiscal year 2025 revenue guidance beating Wall Street's consensus estimate and its announcement that it was acquiring a chip testing company focused on artificial intelligence (AI) chips.
Aehr's quarterly revenue and earnings exceeded analysts' expectations. However, this didn't come as a surprise to investors closely following the stock because the company released limited preliminary quarterly results on July 9. The next day shares rocketed up 24% due to the better-than-expected preliminary quarterly results.
Source Fool.com
