🔴 ON is trading 4.7% down today amid a broader semiconductor selloff and AI-chip profit-taking

ON is trading at $90.24, down 4.7% today, amid a sharp selloff in semiconductor shares and profit-taking across the AI-chip trade.

• Reuters and CNBC reported a global selloff in chip stocks fueled by concerns over the sustainability of the AI-driven rally.
• The downward movement appears to be sector-driven, with no company-specific catalysts identified for ON.
• Weakness in Asian semiconductor markets further pressured the sector during global trading hours.