ON Semiconductor Rebound Delayed Over Trade War Concerns
The semiconductor industry has been anticipating a rebound in business, but ON Semiconductor's (NASDAQ: ON) second-quarter 2019 report may have tossed a bit of tepid water on those hopes.
Paired with a further escalation in the trade dispute between the U.S. and China, the results reported this week left investors less than pleased. It looks like, for now, a rebound may be getting pushed into next year instead.
After a less-than-stellar end to 2018, shares of ON Semiconductor were rebounding nicely at the halfway point of 2019 with a more-than-30% advance. With August underway, though, the stock is down some 20% from its recent highs, as a result of the potent combination of trade tension and an underwhelming business outlook.
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