New York, February 7, 2026, 20:48 EST — The market is done for the day.
- Shares of ON Semiconductor ended Friday’s session 3.3% higher, finishing at $65.20.
- The chipmaker will release its quarterly results after markets close Monday, Feb. 9.
- Chip stocks jumped Friday, with traders eyeing big U.S. tech companies and their hefty AI infrastructure budgets.
ON Semiconductor (ON.O) finished Friday up 3.33% at $65.20, putting the stock in focus ahead of its earnings release scheduled for after Monday’s close. 1
The clock’s a factor here. Chip stocks have just staged a sharp rebound after a tough run for AI players, and onsemi’s latest numbers could either fan those gains or yank them back.
Friday saw a strong rally across the board. The PHLX semiconductor index (.SOX), a benchmark for U.S. chip stocks, surged 5.7%. Nvidia (NVDA.O) jumped 7.8%, Advanced Micro Devices (AMD.O) tacked on 8.3%, and Broadcom (AVGO.O) gained 7.1%. For the first time, the Dow ended above 50,000. “There’s real demand for AI products … and a necessity of a lot of spending,” said Ross Mayfield, investment strategy analyst at Baird. 2
But that spending? It’s raising eyebrows, depending who you talk to. “Strong cloud growth hasn’t been enough to distract markets from ballooning capital investment plans,” said Aarin Chiekrie, equity analyst at Hargreaves Lansdown, in a Reuters piece covering investor nerves about big tech’s AI splurge. 3
Still, demand is running strong. The Semiconductor Industry Association projects global chip revenue will reach $1 trillion by 2026, powered by ongoing AI data-center investment. “No one knows what’s going to happen with the AI build out a year from now, but my orders are completely full,” SIA CEO John Neuffer told Reuters. 4
Onsemi plans to post its fourth-quarter and full-year results after the bell on Monday, Feb. 9, with a conference call on tap for 5 p.m. ET. The firm, known for its power and sensing chips, serves major automotive and industrial customers. 5
Investors are often more focused on what management says next than on the headline numbers themselves. For chip stocks, it’s usually the guidance—not the last quarter—that shifts the needle.
Demand in autos and factories is front and center, with onsemi making a big bet on pricier power components. Traders are tuned in for any mention of silicon carbide, the material that’s become essential for high-voltage power chips thanks to its resilience against heat and stress—something regular silicon just can’t match.
Onsemi’s got company in that space. It’s up against both power-chip pure-plays and broadliners from Europe and the U.S. — and when customers start pulling back on orders, pricing battles can break out fast.
Here’s the risk: a wary tone, chatter about clients cutting back on inventory, or any hint of margin squeeze could yank the stock’s rally, which had run strong into earnings week.
Macro numbers still loom. The U.S. January jobs report is set for Feb. 11, followed by the January CPI on Feb. 13—both landing later than usual thanks to a short-lived shutdown that scrambled the schedule. Either release could jolt bond yields and shake up risk appetite. 6
U.S. markets are back open Monday. onsemi drops its report once trading wraps—that’s the next catalyst. From there, traders zero in on Feb. 11 and Feb. 13, when jobs data and the CPI land, both capable of moving the entire tape.
