Does SolarEdge's Profit Warning Spell Doom for Enphase?
If you follow the solar power market, by now you've probably heard about solar inverter leader SolarEdge Technologies' (NASDAQ: SEDG) implosion. As the global economy weakens, SolarEdge saw the need to cut its guidance for third-quarter 2023, which it will fully report on Nov. 1. SolarEdge's quarterly revenue projection could drop as much as $200 million from its previously stated expectations to just $720 million to $730 million, and GAAP operating income is swinging to a loss of as much as $28 million.
High-growth solar inverter peer Enphase (NASDAQ: ENPH) is getting clobbered again in sympathy with SolarEdge's ugly update. Does SolarEdge's woes spell doom for Enphase's growing residential solar empire?
SolarEdge is the top seller of solar inverters as measured by revenue. A solar inverter is an electronic device that converts power generated from a solar panel to usable electricity in a home or commercial building.
Source Fool.com
