Shares of the chipmaker, however, surged around 6% in extended trading, as CEO Gregg Lowe said the company continues to see strong growth from its Mohawk...
- Wolfspeed forecast first-quarter revenue below estimates on Wednesday, anticipating manufacturing issues that could affect its production capacity amid slowing EV sales.
Meanwhile, Wolfspeed's Mohawk Valley chip fabrication plant is targeted to reach 25% of its operating capacity in the first quarter, ahead of schedule. The company counts General Motors and Mercedes-Benz among its customers and makes chips using silicon carbide, which is more energy-efficient material than standard silicon, for tasks such as transmitting power from an electric car's batteries to its motors.
Gregg Lowe Wolfspeed Chip Fabrication
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