💨 Abstract

Wolfspeed, a chipmaker, has forecast lower-than-expected Q2 revenue of $160-$200 million due to sluggish demand from automotive customers and the closure of a facility. The company also expects to book $174 million in restructuring charges. The sluggish demand is attributed to slowing sales of electric vehicles, impacting their silicon carbide chips.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖