ON Semiconductor Corp

ON remains entrenched in a post-parabola collapse downtrend, with lower highs and lower lows confirming a Stage 4 bearish structure. Short-term price action has failed to reclaim the 20EMA and 50DMA, offering no clear entry trigger for shorts, so exposure should be trimmed on any rally into those moving-average resistance zones.

• ↑Q2 revenue $1.6B (+9% YoY); AI Data Center revenue expected to double in 2026.
• ↑Non-GAAP gross margin expanded 80bps to 39.3% via cost and efficiency gains.
• ↓Weak profitability factors highlight difficulty converting sales into sustainable earnings.