Wolfspeed: Full Production Ramp Ripe For Automotive Scaling

2025-12-22 05:22:15 ET

Introduction & Investment Thesis

I am bullish on Wolfspeed, Inc. ( WOLF ), driven by the company’s intention to ramp production of 200 mm silicon carbide after receiving $698.6 million tax refund from the Internal Revenue Service [IRS]. My focus is not on the $698.6 million tax refund but the accumulated available $1.5 billion that cushions the company’s ramp production in its Mohawk Valley Fabrication [MVF] facility. In the last quarter (Q1’2026), MVF contributed $97 million, almost half of the overall $147 million in revenues, up from $49 million in Q1’2025, representing 98% YoY growth....

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