Advantest's share price hit a record high in Tokyo. Expectations for increased tester demand following strong earnings from US-based Micron, along with short covering, drove the rise.
On the 2nd, Advantest's share price on the Tokyo Stock Exchange rose ¥1,970 from the previous day to ¥39,580, setting a new split-adjusted all-time high since listing. The article reports that expectations for increased demand for semiconductor test equipment, or testers, against the backdrop of strong earnings from Micron Technology, are being cited as a buying catalyst.
As a buying catalyst, Micron's strong earnings are said to signal a recovery in demand for semiconductor-related products, with buying of semiconductor-related stocks, including Advantest, continuing. The article also presents the view that the favorable supply-demand balance related to margin trading is prompting short sellers to cover their positions and contributing to further gains.
The article provides a follow-up to the members-only full text, but its key point is that Micron's performance is supporting increased demand in the semiconductor inspection equipment market and strengthening the short-covering phase in Advantest shares.