SIC大厂，股价暴跌

Core Viewpoint - Wolfspeed Inc experienced a significant stock price drop of 10.8% despite reporting better-than-expected first-quarter results, primarily due to disappointing second-quarter revenue guidance that fell short of analyst expectations [1]. Financial Performance - In the first quarter, Wolfspeed reported a non-GAAP loss per share of $0.55, which was better than the expected loss of $0.67. Revenue reached $196.8 million, slightly above the consensus estimate of $192.66 million, marking a year-over-year increase of 1.1% [1]. - The company's gross margin on a non-GAAP basis deteriorated significantly to -26%, compared to 3% in the same period last year. The costs associated with underutilization at the Mohawk Valley and Siler City plants amounted to $47 million, up from $26 million a year earlier [2]. Future Outlook - Wolfspeed's second-quarter revenue guidance is projected to be between $150 million and $190 million, which is significantly lower than the analyst expectation of $202.7 million. The midpoint of this guidance ($170 million) is 16% below the consensus estimate [1]. - The anticipated sequential revenue decline is attributed to accelerated customer procurement in the first quarter, as some clients increased inventory ahead of the planned closure of the Durham plant by year-end. Additionally, certain customers sought alternative suppliers during the company's bankruptcy proceedings [1]. Cash Position - At the end of the quarter, Wolfspeed held $926 million in cash, cash equivalents, and short-term investments. The company officially emerged from Chapter 11 bankruptcy protection on September 29, 2025, and plans to provide a comprehensive financial update in the first half of 2026 [2].