Northland rewards the demand trends of small-cap AXT as an indirect AI beneficiary and sees potential up to $20 (+35%)

The stock of the small-cap company AXT (AXTI) has multiplied approximately fifteen times from its yearly low. This is an enormous rally after the stock had to endure massive losses in recent years. Supplier of "non-silicon" chips: AXT manufactures substrate wafers made from indium phosphide (InP), gallium arsenide (GaAs), and germanium (Ge) – materials that are used where silicon does not meet the requirements (e.g., in high frequency/opto). The company is essentially positioned upstream in the value chain (material/substrate). The strategic...