ON Semiconductor, STMicroelectronics, and Astera Labs all strengthened on the same day, with gains concentrated in the 6-7% range: ON Semiconductor's rise came from institutions raising their target price, citing the passing of the trough in automotive and industrial demand; STMicroelectronics regained attention with new product launches coupled with capacity discussions; the trigger for Astera Labs was the large-scale cooperation between Amazon and Anthropic being finalized, leading to a direct reassessment of the demand outlook for AI infrastructure interconnect chips.

All three moved in the same direction, but their driving logics were independent; if it was merely driven by analyst sentiment rather than solid earnings evidence, the Q2 earnings report will be the falsification point.