🔴 ON Semiconductor Corporation is trading 4.8% down today as traders rotate out of AI and chip stocks

ON Semiconductor Corporation is trading 4.8% down at $111.35 as semiconductor and broader tech names face renewed selling pressure.

• Traders are rotating out of higher-beta AI and chip stocks as major U.S. indices trade lower in a broad market risk-off environment.
• The decline comes despite the company's announcement of its new GaNEXUS gallium nitride power portfolio designed for AI data centers.
• Today’s price action appears tied to macro sector trends rather than any specific negative development within the company.