Why is Wolfspeed (Wolf) stock heading higher today?

Wolfspeed (WOLF) stock is heading higher today following the release of the semiconductor company's earnings report for fiscal Q1 2022.

Why did chipmaker Wolfspeed forecast revenue below estimates?

Chipmaker Wolfspeed forecast current-quarter revenue below estimates on Wednesday as automakers grapple with high inventory levels due to slower-than-expected EV sales growth. DURHAM, N.C.-- (BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the third quarter of fiscal 2024.

Could Wolfspeed be a major cost advantage over on semiconductor?

If Mohawk Valley can be brought up to full capacity soon, Wolfspeed will be able to lower costs by as much as 40% compared to its existing production and the company should have “major cost advantage” over competitors like ON Semiconductor Corp. for a few years, according to Wells Fargo analyst Gary Mobley. The clock is ticking, however.