Tesla's plan to slash silicon carbide use sends some chipmakers' shares down
Publishing timestamp: 2023-03-02 16:28:59
Summary
Tesla revealed plans to reduce the use of silicon carbide transistors in their next-generation vehicle powertrains, causing shares of chipmakers to dip. Analysts believe that the announcement is a good thing for chipmakers as they expect demand to remain high. Wells Fargo analysts are maintaining an overweight rating on shares of both Wolfspeed and OnSemi.
Sentiment: MIXED
Tickers: MP, TSLA, WOLF, 4AIM-IT, ON,
Keywords: technology, on semiconductor corp, mp materials corp, stmicroelectronics nv, computer hardware, business news, transportation, autos, tesla inc, wolfspeed inc,
Source: https://www.cnbc.com/2023/03/02/tesla-plans-to-slash-transistor-use-chipmaker-shares-plunge.html