On July 29, ON Semiconductor fell 5.12% in regular trading, trading at $80.07/share, with turnover of $2.15 billion. The decline was driven by a continued broad selloff across the semiconductor sector as the Philadelphia Semiconductor Index sustained heavy losses.

On the news front, prominent Wall Street short seller Michael Burry has increased bearish bets on NVIDIA and Philadelphia Semiconductor Index ETFs, projecting approximately 30% downside for the sector. Additionally, Moody's warned that AI infrastructure spending approaching nearly one trillion dollars annually is eroding cloud service providers' free cash flow, intensifying market skepticism over the sustainability of AI demand.

Within the Semiconductors sector, the selloff was widespread. Among peers, Micron Technology fell 6.07%, AMD declined 6.21%, Intel dropped 4.37%, NVIDIA slid 2.63%, and SK hynix lost 2.34%. ON Semiconductor is scheduled to report earnings on August 3, with consensus estimates projecting revenue of $1.588 billion, up 9.33% year-over-year, and adjusted EPS of $0.72.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)