Wolfspeed Shares Plunge on Disappointing Outlook

Wolfspeed shares experienced a dramatic late-trading selloff, plummeting more than 18% after the semiconductor manufacturer issued a disappointing forecast for the current quarter. The company’s management warned that market weakness is expected to persist through 2026, casting a shadow over its recent emergence from bankruptcy protection.

The company’s second-quarter revenue projection of $150 to $190 million fell substantially below market experts’ expectations of $232 million. This gloomy outlook overshadowed the actual quarterly results, which showed revenue of $197 million and an adjusted loss of 55 cents per share.

CEO Robert Feurle acknowledged the challenging environment, stating, “Similar to others in our industry, Wolfspeed continues to experience persistent market softness that we anticipate will Read more...