Axcelis Stock In Buy Range After Chart Breakout, Strong Guidance

Key Points Axcelis Technologies recently broke out of consolidation above $136.30.The stock rallied after the company reported strong Q1 results; recent buying suggests institutions are accumulating shares.Revenue for the current quarter is expected to be between $255 and $260 million, with a year-over-year increase in earnings per share.Axcelis projects revenue to exceed $1.03 billion for the full year, with expected improvements in supply chain costs and product mix.The demand for chips is increasing due to factors including vehicle electrification, 5G networks, and the growth of the Interne…

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