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Aehr Test Systems Stock Soars 18% as EV Market Demand Fuels Strong Guidance

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Aehr Test Systems Stock Soars 18% as EV Market Demand Fuels Strong Guidance: https://g.foolcdn.com/editorial/images/739989/aehr-stock-earnings-chips-electric-vehicles.jpg

Aehr Test Systems (NASDAQ: AEHR) stock surged 18.2% on Friday, following the semiconductor test and reliability qualification equipment supplier's Thursday afternoon release of its results for the fourth quarter of fiscal 2023, which ended May 31.

No doubt, investors liked that the quarter's adjusted earnings beat Wall Street's consensus estimate. However, it seems safe to assume that the primary reason for their enthusiasm was the powerful guidance for fiscal 2024 on both the top and bottom lines. The main driver of the robust outlook is growing demand for the company's equipment from manufacturers of silicon carbide semiconductors for use in electric vehicles (EVs).

$6.8 million

Source Fool.com

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