ON Semiconductor shares are trading lower amid volatility in chip stocks following NVIDIA's earnings.
Portfolio Pulse from Benzinga Newsdesk
ON Semiconductor shares are trading lower amid volatility in chip stocks following NVIDIA's earnings.
May 23, 2024 | 4:13 pm
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NEGATIVE IMPACT
ON Semiconductor shares are trading lower due to volatility in the chip sector following NVIDIA's earnings report.
The decline in ON Semiconductor shares is directly linked to the broader volatility in the chip sector, which was triggered by NVIDIA's earnings report. This suggests a negative short-term impact on ON's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
NVIDIA's earnings report has caused volatility in the chip sector, affecting stocks like ON Semiconductor.
While the article does not specify the details of NVIDIA's earnings, the report has led to sector-wide volatility. The impact on NVIDIA's stock price is neutral as the focus is on the sector's reaction.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60