Semiconductor companies, including Texas Instruments and Onsemi, posted notable gains, contributing significantly to the tech sector’s overall performance. This resurgence is attributed to strong earnings reports and optimistic forecasts for the industry.
Key Facts:
- Texas Instruments reported Q1 revenue of $4.07 billion, exceeding the consensus estimate of $3.91 billion.Nasdaq
- The company forecasted Q2 revenue between $4.17 billion and $4.53 billion, surpassing expectations.Nasdaq
- On Semiconductor’s stock rose over 7%, despite a recent downgrade by B. Riley due to macroeconomic concerns. Baystreet
Further Reading:
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