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Chipmaker Wolfspeed forecast current-quarter revenue below estimates on Wednesday as automakers grapple with high inventory levels due to slower-than-expected EV sales growth.Shares of the company, which counts General Motors and Mercedes-Benz among its customers, fell about 4 per cent in extended trading
Chipmaker Wolfspeed forecast third-quarter revenue below estimates on Wednesday, as slower sales growth for electric vehicles hurt demand for its semiconductors used in them, sending its shares down 2 per cent in extended trading.Wolfspeed is a key supplier of specialized chips and power devices for elect
Chipmaker Wolfspeed: Wolfspeed said it expected third-quarter revenue from continuing operations to be between $185 million and $215 million. Analysts on average were expecting $224 million, according to LSEG data.
Chipmaker Wolfspeed: Wolfspeed said it expected third-quarter revenue from continuing operations to be between $185 million and $215 million. Analysts on average were expecting $224 million, according to LSEG data.
Chipmaker Wolfspeed on Monday forecast a smaller-than-estimated second-quarter loss as it expects a boost to its business from a ramp-up in production at its new New York factory, sending its shares up 8 per cent in extended trading.The strong forecast suggests that the company is on track to meet or exce