Reported 3 days ago
Cadence Design Systems has projected its annual revenue and profit to fall below analysts' expectations due to weakening demand for its chip design software as clients cut back on spending amid economic challenges. Following this news, the company's shares dropped 5% in after-hours trading. Analysts anticipate continued subdued demand into 2025, particularly due to potential restrictions on semiconductor technology sales to China, impacting Cadence's revenue projections.
Source: YAHOO