Tower Semiconductor Exceeds Revenue Expectations Due to Strong Chip Demand

Reported about 6 hours ago

Tower Semiconductor has projected its third-quarter revenue to surpass Wall Street estimates, thanks to steady demand for its chips in automotive and industrial applications. The company's shares rose by 5% in early trading, boosted by increased interest in its advanced technologies for optical fiber communications essential for AI and data center infrastructures. The forecast stands at $395 million, compared to analysts' expectations of $392.5 million.

Source: YAHOO

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