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Indebta > Investing > Wolfspeed stock slumps as revenue forecast disappoints after new factory opens
Investing

Wolfspeed stock slumps as revenue forecast disappoints after new factory opens

News Room
Last updated: 2023/04/27 at 9:05 AM
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Wolfspeed Inc. shares declined 8% in after-hours trading Wednesday, as the silicon-carbide chip maker projected disappointing revenue figures for the fiscal fourth quarter and next year.

Executives for Wolfspeed WOLF, which was formerly known as Cree, projected a fiscal fourth-quarter adjusted loss of 17 to 25 cents a share on sales of $212 million to $232 million, while analysts on average were projecting an adjusted loss of 12 cents a share on revenue of $233 million, according to FactSet. For fiscal 2024, Wolfspeed executives…

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News Room April 27, 2023 April 27, 2023
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