ON Semiconductor is trading at $73.65, -4.28%, amid a broad chip and technology selloff.
- Investors are weighing weaker-than-hoped-for Lam Research guidance and renewed concerns about returns on AI spending.
- Rising oil prices amid Middle East tensions are adding to market-wide risk aversion. Reports mention analyst price-target cuts, but cited coverage does not establish them as the cause.
- No clearly confirmed company-specific event explains the drop. Shares rose 1.75% in the prior session.