2024-04-03 16:57:02 ET
Summary
- Wells Fargo downgraded Wolfspeed due to its exposure to the electric vehicle market.
- Tesla's potential decline in volume could lead to a decrease in demand for silicon carbide as with other electric vehicle companies.
- ON Semiconductor achieved 1.7x year-over-year growth in SiC revenue in 2023 and anticipates 2x growth in 2024, despite uncertainties in the EV industry.
According to a News Article on Seeking Alpha, Wells Fargo downgraded Wolfspeed ( WOLF ) the silicon carbide ("SiC") semiconductor company, citing its exposure to the electric vehicle market....
Read the full article on Seeking Alpha
For further details see:
ON Facing Headwinds From A Slowing U.S. EV market Amid Strong SiC Wafer Competition In China