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Key Takeaways From Rosenblatt's View On Chipmakers' Earnings

Benzinga Real-time News ·  Aug 8, 2022 14:26
  • Rosenblattanalyst Kevin Cassidy highlighted some key takeaways from last week's semiconductor earnings.
  • Last week's earnings reports made it clear that companies exposed to the higher-end of markets saw their earnings holding up better.
  • Most management teams pointed to an inventory correction phase starting, leading to a cautious stance for 2023.
  • He believes exposure to the higher performance markets such as AI, 5G, and EV automotive have driven the better-than-expected numbers.
  • ON Semiconductor Corp(NASDAQ:ON) (Buy, Price Target $80) increased its silicon carbide (SiC) revenue expectations for 2023, whileSTMicroelectronics NV (NYSE:STM) maintained its forecasted revenue and...
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