Wolfspeed Faces Margin Pressure As Analysts Express Concern Over Mixed Q4 Results
Portfolio Pulse from Priya Nigam
Wolfspeed Inc (NYSE:WOLF) shares dropped in pre-market trading following mixed Q4 results. Analysts from Morgan Stanley, BMO Capital Markets, and Oppenheimer expressed concerns over disappointing gross margins and lower than expected earnings. The company's decision to include startup costs in non-GAAP results and ongoing elevated startup expenses were also highlighted. Shares of Wolfspeed declined by 20.63% to $42.20 a share.
August 17, 2023 | 3:41 pm
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Wolfspeed's mixed Q4 results and disappointing gross margins have led to a drop in its share price. Analysts have expressed concerns, which may continue to pressure the stock.
The mixed Q4 results and disappointing gross margins reported by Wolfspeed have led to a drop in its share price. This, coupled with the concerns expressed by analysts from Morgan Stanley, BMO Capital Markets, and Oppenheimer, may continue to exert pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100