Axcelis Technologies Inc (ACLS)

Axcelis Technologies Stock (ACLS) dropped by 8.53% from $138.04 to $126.27 in the trading on Monday October 30, 2023. The reason why ACLS stock down today is due to the concerns of investors ahead the earnings results. Axcelis is slated to report third-quarter 2023 results on November 1. Analysts expect Axcelis Technologies to post earnings of $1.73 per share for the quarter. However, ACLS’ performance in Q3 is likely to have been affected due to lingering supply-chain constraints and global macroeconomic weakness. Soft demand from memory and advanced logic customers is an added concern. Increasing expenses toward research and development, and infrastructure are likely to be headwinds.