Wolfspeed shares are trading higher after the company announced a 10-year silicon carbide wafer supply deal with Renesas Electronics Corporation.
Portfolio Pulse from Benzinga Newsdesk
Wolfspeed has announced a 10-year silicon carbide wafer supply deal with Renesas Electronics Corporation. This has led to a rise in Wolfspeed's share prices.
July 05, 2023 | 10:05 am
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Wolfspeed's shares are trading higher after the company announced a 10-year silicon carbide wafer supply deal with Renesas Electronics Corporation.
The announcement of a long-term supply deal with Renesas Electronics Corporation is a positive development for Wolfspeed. This deal not only secures a steady revenue stream for the next decade, but also strengthens the company's market position. As a result, investors are reacting positively, leading to a rise in the company's share prices.
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