$ASML(ASML.US) and $Maxlinear(MXL.US) barely moved, while $Monolithic Power(MPWR.US) dropped by over five percent.
The decline of $Monolithic Power(MPWR.US) stood out starkly on a day when semiconductors were broadly rising. In its revenue structure, power management chips serve the server and automotive sectors, with the AI server segment originally being the source of valuation premiums.
Is such a sharp drop due to issues with a single major customer's share, or is the market beginning to question the bargaining power of the power management segment within the computing chain? My intuition leans towards the former—the fact that upstream players like $ASML(ASML.US) didn't follow suit suggests that expectations for the entire chain weren't slashed.
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