Enovix Corp For FY23, Company Continues To Expect To Produce 180,000 Cells For Customers From Fab1
Portfolio Pulse from Benzinga Newsdesk
Enovix Corporation (NASDAQ: ENVX) has achieved its Q2 forecast of 18,000 units manufactured at its Fab1 location and expects to exceed its quarterly guidance. The company maintains its FY23 target of producing 180,000 cells for customers from Fab1. Enovix plans to begin high-volume manufacturing at its Fab2 location in Malaysia next year.
June 15, 2023 | 8:05 pm
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Enovix has achieved its Q2 production forecast and expects to exceed its quarterly guidance, maintaining its FY23 target of 180,000 cells from Fab1. High-volume manufacturing is planned at Fab2 in Malaysia next year.
Enovix's achievement of its Q2 production forecast and expectation to exceed its quarterly guidance indicate strong operational performance. This, along with the maintained FY23 target and planned high-volume manufacturing at Fab2, is likely to have a positive short-term impact on the company's stock price.
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