Onsemi, a company that makes chips for cars, had some bad news. They didn't sell as many chips as they thought they would. This is because people are buying fewer electric cars right now.
This means Onsemi's profit will be lower than expected. The price of their company's stock (which is like a share of ownership) went down because of this news.
It's like if you were selling lemonade, and fewer people wanted to buy it.
- Onsemi makes special chips for electric cars.
- They sold fewer chips than expected.
- The price of their company stock dropped 6%.
| Item | Number |
|---|---|
| Expected Revenue (in billions of dollars) | $1.35 - $1.45 |
| Analyst Estimate of Revenue (in billions of dollars) | $1.69 |
| Actual Revenue in Q4 (in billions of dollars) | $1.72 |
| Stock Price Change | Down 6% |
