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ON Semi Stock Gains Despite Weak Guidance. It’s Good News for Rival Chip Makers.

ON Semi Stock Gains Despite Weak Guidance. It’s Good News for Rival Chip Makers.

ON Semiconductor stock was rising even though the company posted disappointing second-quarter financial guidance. It could be a good sign for other companies making chips for the auto industry, one analyst says. ON Semi told investors to expect second-quarter earnings of between 86 cents and 98 cents a share from revenue of between $1.68 billion and $1.78 billion.