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US markets are under pressure as fears of a trade war escalate with President Trump's impending tariffs affecting all countries. The Dow Jones and Nasdaq 100 indices have seen significant declines, while gold prices soar amid geopolitical tensions. Vaccine stocks also suffered, with Moderna and Biontech experiencing sharp losses.
Wolfspeed, Inc. has a consensus rating of "Hold" with an average price target of $14.86, despite recent challenges, including a reported loss of $1.10 per share. Institutional investors like Charles Schwab have increased their holdings, while analysts have varied opinions, with three rating it as a sell and four as a buy. The stock is currently trading at $6.30, significantly below its twelve-month high of $30.86.
Wolfspeed is set to present at the UBS Global Technology and AI Conference on December 3, 2024, focusing on its transition to 200mm technology to enhance manufacturing efficiency and leverage an $11 billion backlog in design wins, particularly in the electric vehicle sector. Despite operational challenges and a need for significant restructuring, the company anticipates a revenue growth forecast of 22.9% per year, supported by CHIPS Act funding and a potential recovery in industrial markets by 2025. Analysts project a target price over 20% higher than the current share price, reflecting confidence in Wolfspeed's growth trajectory.
Wolfspeed is transitioning to 200-millimeter technology, enhancing efficiency and financial performance, supported by an $11 billion backlog in design wins, particularly in the electric vehicle sector. However, the company faces operational challenges, including a high cost structure and significant restructuring charges, alongside economic headwinds like high interest rates. Despite these issues, analysts project a revenue growth of 22.9% per year, indicating strong future potential.
Wolfspeed, Inc.
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