Why Aehr Test Systems Rocketed 18% Higher Today

Shares of Aehr Test Systems (NASDAQ: AEHR) rallied 18% Friday, as of 1:43 p.m. ET.

The maker of wafer-level test and burn-in devices reported earnings for its August quarter yesterday, beating expectations. But more important than reported results was management's commentary that Aehr is penetrating new markets, especially artificial intelligence (AI) accelerators.

Last night, Aehr reported earnings for its fiscal first quarter ending in August. While revenue was down 36.5% to $13.1 million, that actually beat analyst expectations, as did the non-GAAP (adjusted) earnings-per-share (EPS) figure of $0.07, which came in well above expectations of $0.01.

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Source Fool.com