Wolfspeed, a leading silicon carbide semiconductor manufacturer, is skyrocketing in value after securing $2.5 billion in funding, a combination of government grants and private investments. The funding will fuel the company’s ambitious plan to expand US production of silicon carbide chips, critical for clean energy and advanced technologies.
Wolfspeed (WOLF) reported a wider-than-expected loss in its fourth-quarter earnings, with revenues lagging year-over-year. Despite this, the company expects to see revenue growth in the first quarter of fiscal 2025. Investors have recently witnessed a downward trend in fresh estimates for Wolfspeed, leading to a Zacks Rank of #3 (Hold).
