What's Going On With Wolfspeed Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Wolfspeed Inc (NYSE:WOLF) has postponed its $3 billion plant in Germany due to weak EV markets and is focusing on ramping up production in New York. The delay, coupled with disappointing Q3 revenue results, has led analysts to lower their price targets. The stock has fallen 50% over the past year.
June 20, 2024 | 11:17 am
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NEUTRAL IMPACT
Intel has announced plans for new European plants following the EU’s 2022 Chips Act. However, progress has been slow, with few projects receiving European Commission approval for state aid.
Intel's plans for new European plants are mentioned, but the slow progress and lack of state aid approval make the short-term impact neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Taiwan Semiconductor Manufacturing Co has announced plans for new European plants following the EU’s 2022 Chips Act. However, progress has been slow, with few projects receiving European Commission approval for state aid.
TSMC's plans for new European plants are mentioned, but the slow progress and lack of state aid approval make the short-term impact neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Investors can gain exposure to Wolfspeed stock via iShares Core S&P Mid-Cap ETF (NYSE:IJH). The ETF may experience minor fluctuations due to Wolfspeed's performance.
Wolfspeed's performance may cause minor fluctuations in the ETF, but the overall impact is limited due to the diversified nature of the ETF.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30
NEGATIVE IMPACT
Investors can gain exposure to Wolfspeed stock via iShares Semiconductor ETF (NASDAQ:SOXX). The ETF may experience minor fluctuations due to Wolfspeed's performance.
Wolfspeed's performance may cause minor fluctuations in the ETF, but the overall impact is limited due to the diversified nature of the ETF.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 30
NEGATIVE IMPACT
Wolfspeed has delayed its $3 billion German plant due to weak EV markets and is focusing on New York production. Analysts have lowered price targets following disappointing Q3 revenue results. The stock has fallen 50% over the past year.
The delay in the German plant and weak Q3 revenue results have led analysts to lower price targets, indicating a negative short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100