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AXT Inc. (NASDAQ:AXTI) is one of the 10 Stocks Stealing the Spotlight from Wall Street Giants.

AXT Inc. saw its share prices jump by 13.95 percent on Monday to close at $110.74 apiece, as investors resorted to bargain-hunting after it crashed below the $100 level last week.

The stock mirrored optimism in the overall market after President Donald Trump announced that the US and Iran had officially reached a deal to end their four-month war and reopen the Strait of Hormuz.

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For illustration purposes only. Photo from Pixabay/Pexels

“I am very happy to say: it’s signed, the deal is all signed,” Trump said during a meeting with French President Emmanuel Macron on the same day.

The positive news spilled over to US markets. Wall Street’s three major indices, Dow Jones, S&P 500, and Nasdaq all clocked gains of 0.92 percent, 1.65 percent, and 3.07 percent, respectively.

For AXT Inc. (NASDAQ:AXTI), the easing tensions between the two nations could support supply chain and logistics for strategic materials, including indium phosphide, which is highly needed in AI data centers, telecommunications, and high-speed electronics, among others.

In other news, AXT Inc. (NASDAQ:AXTI) is set to participate in a virtual conference to be organized by Northland Securities on June 23. Investors are expected to watch for cues about its performance in the second quarter of the year.

In its last earnings call, AXT Inc. (NASDAQ:AXTI) remained optimistic about its outlook for its business, saying that it believes it is “in the best position to support and enable our industry in meeting the current and future needs.”

While we acknowledge the risk and potential of AXTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AXTI and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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