Overview
- Shares fell about 27% to $36.07 after the company projected next-quarter revenue of $158 million to $178 million, below the $171 million Wall Street estimate.
- Management said the March quarter landed slightly above the midpoint of guidance on strength in advanced computing such as AI, servers, and graphics, plus gains with a key U.S. smartphone customer.
- Leaders said the December and March periods likely marked near-term lows for revenue and margins, and they expect early signs of improvement in the June quarter.
- The company cautioned that second-half 2026 visibility remains limited because memory pricing and supply are still uncertain.
- Executives still expect modest growth for the full year and say current R&D spending is meant to set up a stronger ramp starting in 2027 as new programs roll out.