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Stock impact report

Wolfspeed falls after weak outlook as analysts mull 'lackluster" demand in EV market [Seeking Alpha]

Piper Sandler Companies (PIPR) 
Last piper sandler companies earnings: 5/1 08:04 am Check Earnings Report
Company Research Source: Seeking Alpha
analysts pointed to weak guidance due to “lackluster” demand in the company's key end market of electric vehicles. Piper Sandler kept its Quick Insights Weak EV demand led to lower guidance and share price drop, significantly impacting Wolfspeed's revenue expectations. Wolfspeed is focusing on data centers, solar wind applications, and AI-related markets as future growth drivers. Wolfspeed has reduced capital expenditure by about 90%, cut operating expenses by $200M, and maintains a strong cash-to-debt balance, aiming to stabilize during its business transformation. Recommended For You Show less Read more
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