ON Semiconductor stock slips 4.88% and underperforms competitors
Updated
Updated · MarketWatch · May 7
ON Semiconductor stock slips 4.88% and underperforms competitors
11 articles · Updated · MarketWatch · May 7
Shares closed at $100.61 on Thursday, as the S&P 500 fell 0.38% and the Dow Jones Industrial Average lost 0.63% in a broadly weak session.
The decline ended a two-day winning streak and left the stock 5.0% below its 52-week high of $105.90 reached on 6 May.
ON lagged peers including Nvidia, up 1.77%, and Qualcomm, up 5.18%, while trading volume surged to 19.2 million shares, above its 50-day average of 9.5 million.
Is ON Semiconductor's bet on AI and EVs enough to justify its seemingly overvalued stock price?
As Chinese rivals rise, is ON Semiconductor losing its critical edge in the power semiconductor market?