5 Stocks Outperforming Wall Street With Monster Returns

4. Veeco Instruments Inc. (NASDAQ:VECO)

Veeco Instruments soared to a new 25-year high on Wednesday, following news that it bagged $250 million worth of equipment orders from multiple customers riding the AI wave.

At intra-day trade, the stock soared to a record high of $65.41 before trimming gains to end the session just up by 25.17 percent at $62.01 apiece.

In a statement, Veeco Instruments Inc. (NASDAQ:VECO) said that it received orders for its Spector Ion Beam Deposition (IBD), Lumina Metal Organic Chemical Vapor Deposition (MOCVD), and WaferEtch Wet Processing systems, which are all essential in the production of Indium Phosphide (InP) lasers.

A substantial portion of the orders was for the Spector IBD from leading manufacturers of 800G and 1.6T optical transceivers. Deliveries are targeted to begin this year.

Orders aside, Veeco Instruments Inc. (NASDAQ:VECO) announced on the same day that it swung to a net loss of $300,000 from a $11.9 million net income in the same period last year. Revenues also dropped by 5 percent to $158.3 million from $167.3 million year-on-year.

Commenting on the performance, Veeco Instruments Inc. (NASDAQ:VECO) CEO Bill Miller said that the company “executed well in the first quarter” as the industry enters a transformational period driven by rapid expansion of AI data centers and high-performance computing.

The firm is targeting its revenues to pick up by 2 percent to 14 percent, to a range of $170 million to $190 million year-on-year.