WOLF - Why Electric Vehicle Chip Stocks Aehr Test Systems Axcelis Technologies and Wolfspeed Fell in September
2023-10-05 07:50:00 ET
Shares of power semiconductor stocks crucial to the growth of electric vehicles, such as Aehr Test Systems (NASDAQ: AEHR) , Axcelis Technologies (NASDAQ: ACLS) , and Wolfspeed (NYSE: WOLF) , all had tough months in September. The aforementioned stocks were down 10.4%, 15.1%, and 20.3% for the month, respectively, according to data from S&P Global Market Intelligence .
Virtually all technology and semiconductor stocks sold off in September, largely due to profit-taking after impressive first-half runs, in combination with rising long-term bond yields.
In addition, each of these companies is targeting the high-growth electric vehicle industry. But some recent data points suggest the EV market may be slowing down, which is more concerning.
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Why Electric Vehicle Chip Stocks Aehr Test Systems, Axcelis Technologies, and Wolfspeed Fell in September