Why Silicon Labs, Sierra Wireless, Cirrus Logic, and NXP Semiconductors Stocks Tanked Today
The coronavirus pandemic continues to drive an historic stock market sell-off, which has now put all major indexes firmly into bear market territory. As of noon EDT, here's how deeply in the red several semiconductor stocks are trading:
Image source: Getty Images.
Silicon Labs updated its guidance this morning to warn investors that it would miss its previous outlook due to the outbreak. "Due to the uncertain and evolving public health outlook resulting from COVID-19, we are seeing an impact on first quarter demand and are updating our guidance accordingly," CEO Tyson Tuttle said in a statement. "While all of our Asia-Pacific-based suppliers have resumed operations, there are some minor ongoing impacts on our supply chain."
Source Fool.com
