ON Semiconductor stock (ON) is down about 25% to a recent $81.16 from its record high hit this summer amid tech-sector weakness and concerns about restrictions on exporting to China, Jacob Sonenshine writes in this week’s edition of Barron’s. The decline was compounded by a selloff in the chip sector on Wednesday caused by Texas Instruments (TXN), which missed sales forecasts when it reported earnings after Tuesday’s close and said it saw weak demand from industrial customers. With the stock down so much in a short time, though, much of those concerns are likely reflected in ON’s shares. And with the company set to report earnings on Monday, it will have a chance to show that concerns about China, industrials, and other businesses are holding up just fine, the author argues.
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