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ON Semiconductor saw a pocket of weakness in the EV market, triggering a stock sell-off.
The company's earnings beat expectations but its guidance disappointed as it forecast a drop in demand.
Despite a gain of 1.13% in the Invesco QQQ NASDAQ: QQQ, which tracks the Nasdaq 100 index, Tesla Inc. NASDAQ: TSLA skidded 4.79% after disappointing guidance from chip supplier ON Semiconductor Corp.
Hassane El-Khoury, CEO of ON Semiconductor, discusses the company's earnings results after it gave a fourth-quarter forecast that was weaker than expected in terms of adjusted earnings and revenue. He
ON Semiconductor Inc (NASDAQ:ON) is plummeting today, despite the company's upbeat third-quarter results, after the chip giant announced 900 job cuts and a weak fiscal fourth-quarter forecast on slowi
ON Semiconductor shares fell after the company offered weaker-than-expected guidance

Why On Semiconductor Plunged Today

01:39pm, Monday, 30'th Oct 2023
The automotive semiconductor specialist delivered an earnings beat, but a soft outlook. Is the electric vehicle market peaking, or is this just a speed bump on the way to further growth?
onsemi's (ON) third-quarter 2023 performance reflects strong demand for Power Solutions and Automotive products.
Onsemi CEO Hassane El-Khoury joins 'Squawk on the Street' to discuss the company's Q4 guidance, his broader view on the auto industry, and pressures on the EV market.
Mid-October near-term highs have given way to lower trading levels for the most part in the past couple weeks.
ON Semiconductor Corp (NASDAQ:ONNN) has reported third-quarter revenue and earnings that topped analysts' expectations but fourth-quarter guidance that disappointed the market, sending its shares shar
ON Semiconductor (ON), Ryder (R), Valero (VLO), Upbound Group (UPBD) and AGNC Investment (AGNC) are some of the stocks with high ROE to profit from as markets decline on soft earnings of key blue-chip
ON Semi expects fourth-quarter earnings of between $1.13 and $1.27 a share, which is below analysts' consensus.
Chipmaker Onsemi forecast fourth-quarter revenue and profit below market expectations on Monday, in a sign that slowing demand for electric vehicles was beginning to hurt orders for its chips from the
Investors looking for ways to find stocks that are set to beat quarterly earnings estimates should check out the Zacks Earnings ESP.
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