Why Aehr Test Systems Stock Soared on Friday
Shares of silicon semiconductor chip tester Aehr Test Systems (NASDAQ: AEHR) exploded higher after the company beat fiscal second-quarter 2023 earnings on Friday, rising 40.3% through noon ET.
Heading into earnings, analysts had predicted Aehr would earn $0.08 per share on $12.8 million in revenue for the period ended Nov. 30. In fact, when earnings came out last night, profits doubled the expected number -- $0.16 per share -- and sales beat by $2 million -- $14.8 million.
Not only did Aehr's sales beat expectations, but Aehr posted absolute sales growth that was absolutely fantastic -- 54% year over year -- a fact that management attributed to "strength of semiconductor test and burn-in sales for electric vehicles." (That's something to keep in mind, by the way, if you invest not only in semiconductors, but in electric vehicle (EV) stocks as well. Apparently, sales of EVs are doing better than some media outlets have been reporting.)
Source Fool.com
