Latest news for Wacom (OTC:WACMY) Stock

Wacom Co Ltd is a Japan-based manufacturer of display products. The firm's operations are organized in three segments--the brands segment, which develops, manufactures, and distributes graphic design tablets used to produce film, animation, and photographs; the components segment, which sells components and modules for smartphones and tablets; and the others segment, which develops and sells computer-aided design products. The firm has operations in the United States, Europe, China, India, Taiwan, Hong Kong, and Australia.

Wacom Co Ltd

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) said on Thursday that it is working on a &#8220;comprehensive cleaning solution&#8221; for its Cybertruck rear camera after drivers flagged the need for an automated solution.
What Happened: Tesla uses cameras on the vehicle body to gauge the surroundings and implement certain driver assistance features. The vehicle has one camera mounted on the tailgate, one on each door pillar, two on the windshield above the rearview mirror, one above each front wheel, and one above the grille on the front bumper. 
&#8220;On a more serious note, a more comprehensive cleaning solution is being worked on,&#8221; Tesla said in a post on social media platform X on Thursday in response to a driver who enquired if the company has a plan for cleaning the rear camera without driver intervention once autonomous driving is achieved. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On a more serious note, a more comprehensive cleaning solution is being worked on
&mdash; Tesla AI (@Tesla_AI) <a href="https://twitter.com/Tesla_AI/status/1879888738035314940?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: To ensure a clear image from its many cameras, the lens must be clean and free of condensation, obstruction, or damage, Tesla says. Vehicle owners need to clean the rear camera lens by spraying water and drying it with a microfiber cloth. Only the front-facing camera is equipped with a <a href="https://www.benzinga.com/news/23/12/36372955/teslas-self-cleaning-front-cam-on-cybertruck-sparks-comparison-with-fords-2017-explorer">sprayer nozzle. </a>
Tesla is looking to enable autonomous driving with future versions of its full self-driving (FSD) driver assistance technology. While FSD now requires active driver supervision, the company and its billionaire CEO Elon Musk are optimistic that it will enable vehicle autonomy in due time.
Tesla utilizes multiple cameras on the vehicle body to deploy its driver assistance features. If the vision from a camera is obstructed, the vehicle will flash warnings and some of the features might be restricted, it says. 
In October, the U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA)&nbsp;opened an investigation into<a href="https://www.benzinga.com/news/24/10/41398764/nhtsa-opens-probe-into-2-4m-tesla-vehicles-after-reports-of-4-crashes-with-fsd-involved" target="_blank" rel="noreferrer noopener">&nbsp;2.4 million Tesla vehicles</a>&nbsp;following reports of four crashes where its FSD partial driving automation system was engaged.
The regulator then said that it had identified four crash reports in which a Tesla experienced a crash after entering an area of &#8220;reduced roadway visibility&#8221; with FSD engaged.&nbsp;The reduced visibility, the regulator said, was caused by sun glare, fog, or airborne dust.
In one of the crashes, the vehicle struck and killed a pedestrian, the regulator added.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/general/space/25/01/43023657/jeff-bezos-blue-origins-new-glenn-reaches-orbit-on-first-try-spacex-ceo-elon-musk-applauds-rivals-achievement">Jeff Bezos&#8217; Blue Origin&#8217;s New Glenn Reaches Orbit On First Try: SpaceX CEO Elon Musk Applauds Rival&#8217;s Achievement</a></li>
</ul>
Photo courtesy: Tesla

News

Tech

TSLA

Tesla Says It Is Working On A 'More Comprehensive Cleaning Solution' For Cybertruck Rear View Camera

A bull market has lasted for 7.9 years on average over the last <a href="https://www.benzinga.com/24/12/42430296/carson-researchs-50-year-study-suggests-that-the-26-months-old-bull-market-is-far-from-over">50 years</a>, according to data highlighted by Carson Research in their investment research's outlook for 2025.
What Happened: Carson Research&#8217;s report analyzing bull markets over the past 50 years shows that the 1987 and 2002 bull markets spanned five years each, while the 1974 bull market extended for 6.2 years.
Notably, the 2009 bull market lasted for 11 years, the longest in recent times. Additionally, the 1988 bull market held a record at 12.3 years.
On average, these five bull markets over the last 50 years were 7.9 years long.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Bull Markets Over The Last 50 Years</td>
<td>Total Duration (In Years)</td>
</tr>
<tr>
<td>August 1982-1987</td>
<td>5</td>
</tr>
<tr>
<td>October 2002-2007 </td>
<td>5</td>
</tr>
<tr>
<td>September 1974 to November 1980</td>
<td>6.2</td>
</tr>
<tr>
<td>February 2009-2020</td>
<td>11</td>
</tr>
<tr>
<td>January 1988 to March 2000</td>
<td>12.3</td>
</tr>
<tr>
<td>Average</td>
<td>7.9</td>
</tr>
</tbody>
</table>
</figure>
&#8220;Looking at the previous 11 bull markets, we found the average bull lasted more than five years, suggesting even though this bull market is mighty, it could have plenty of room left to run,&#8221; the note stated.
See Also: <a href="https://www.benzinga.com/25/01/43027048/blackrock-generates-industry-leading-etf-inflows-of-390-billion-in-2024-here-are-five-ishares-etfs-that-investors-should-look-out-for">Bond Rally Drives Stock Market, Taiwan Semi Results Show AI Demand, Manipulators Having A Heyday With Quantum Computing</a>
Why It Matters: However, despite highlighting these statistics, the note added, &#8220;Bullishness is more pervasive now and we could see more volatility in 2025.&#8221;
According to Carson Research, two red flags for the stock market arise historically, the first is that 2025 is the third year of a bull market, and the second is that the valuations are stretched.
An analysis of the eight bull markets since 1950 that reached their third year revealed an average gain of only 2.1%.
On a concluding note the &#8216;Animal Spirits&#8217; report added, &#8220;While we remain overweight equities, we are looking to potentially add excess returns by investing in factors like low volatility and momentum within equities, and actively managed strategies on the fixed income side.&#8221;
Price Action: The exchange-traded fund tracking the S&amp;P 500 index, SPY, advanced 25.27% over a year, whereas, QQQ, tracking the Nasdaq 100 rose 26% in the same period. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index/ETF</td>
<td>Six Months</td>
<td>One Year</td>
</tr>
<tr>
<td>SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)</td>
<td>6.23%</td>
<td>25.27%</td>
</tr>
<tr>
<td>Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</td>
<td>6.50%</td>
<td>26.00%</td>
</tr>
<tr>
<td>SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)</td>
<td>4.77%</td>
<td>15.79%</td>
</tr>
<tr>
<td>iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)</td>
<td>1.01%</td>
<td>18.48%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
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<li><a href="https://www.benzinga.com/news/25/01/43012824/billionaire-investor-who-predicted-the-dot-com-crash-25-years-ago-warns-of-another-market-storm-brew">Billionaire Investor Who Predicted The Dot-Com Crash 25 Years Ago Warns Of Another Market Storm Brewing In The US</a></li>
</ul>
Image generated using AI tools.

Analyst Color

Markets

SPDR Dow Jones Industrial Average ETF Trust

Bull Markets Last For 7.9 Years On Average But Third-Year Returns Can Be Weak, Says This Research Firm

A SpaceX Starship test flight on Thursday forced dozens of commercial flights to divert after the Federal Aviation Administration warned of falling debris, highlighting growing tensions between commercial aviation and the expanding space industry.
What Happened: The incident occurred when SpaceX&#8217;s Starship spacecraft experienced what the company termed a &#8220;rapid unscheduled disassembly&#8221; <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">during its seventh test flight</a> from Boca Chica, Texas. The event triggered air traffic disruptions primarily affecting routes near Florida and the Caribbean.
American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) reported fewer than 10 flight diversions, while a JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) flight from Fort Lauderdale to San Juan was forced to return to its origin. FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) cargo operations also faced route adjustments, <a href="https://www.cnbc.com/2025/01/16/dozens-of-flights-diverted-delayed-after-faa-warned-of-spacex-rocket-debris-.html?ref=biztoc.com">reported</a> CNBC, citing data from FlightAware.
&#8220;We briefly slowed and diverted aircraft around the area where space vehicle debris was falling,&#8221; an FAA spokesperson said, confirming no injuries or property damage were reported.
See Also: <a href="https://www.benzinga.com/media/25/01/43048422/janet-yellens-computer-hacked-by-chinese-hackers-attackers-obtain-law-enforcement-sensitive-data-by-targeting-us-treasury-department">Janet Yellen&#8217;s Computer Hacked By Chinese Hackers, Attackers Obtain &#8216;Law Enforcement Sensitive&#8217; Data By Targeting US Treasury Department</a>
Why It Matters: The test flight, which launched at 5:37 p.m. ET, <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed">initially showed promise</a> as the Super Heavy booster, powered by 33 Raptor engines generating 16 million pounds of thrust, successfully separated. However, telemetry froze at 8 minutes and 27 seconds into the flight.
SpaceX CEO Elon Musk maintained an optimistic stance, posting on X: &#8220;Success is uncertain, but entertainment is guaranteed!&#8221; The flight was particularly significant as it tested various heat shield improvements, including metallic tiles and active cooling systems, crucial for SpaceX&#8217;s ambitious plans for Mars missions.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Success is uncertain, but entertainment is guaranteed! &#x2728; <a href="https://t.co/nn3PiP8XwG">pic.twitter.com/nn3PiP8XwG</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880040599761596689?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/01/43048211/qorvo-soars-7-after-hours-as-activist-investor-starboard-reportedly-takes-stake-in-semiconductor-company">Qorvo Soars 7% After Hours As Activist Investor Starboard Reportedly Takes Stake In Semiconductor Company</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SPACE

JBLU

SpaceX Starship Mishap Diverts Dozens Of Flights As FAA Warns Of Falling Debris

ARBK

Argo Blockchain Notified Of Non-Compliance With Nasdaq's $1 Minimum Bid Price Rule

Macro Economic Events

Econ #s

Economics

U.K. Retail Sales (MoM) For December -0.3% Vs. 0.4% Est.; 0.1% (Revised) Prior

U.K. Retail Sales (YoY) For December 3.6% Vs. 4.2% Est.; 0.0% (Revised) Prior

U.K. Core Retail Sales (MoM) For December -0.6% Vs. 0.1% Est.; 0.1% (Revised) Prior

U.K. Core Retail Sales (YoY) For December 2.9% Vs. 3.6% Est.; -0.5% (Revised) Prior

The operating partnership intends to use the net proceeds from this offering to repay amounts outstanding from time to time under its lines of credit and its commercial paper program, and for other general corporate and working capital purposes, including funding potential acquisition opportunities.

Reported Earlier, Extra Space Prices $350M Add-On Offering Of 5.500% Senior Notes Due 2030

<ul>
<li>Q4 Revenue and EBITDA Negatively Impacted by Customer-Driven Project Delays</li>
<li>Tremendous Q4 Bookings at Over $210 million Establishes New Record and Highest-Ever Backlog</li>
<li>Completed Acquisition of Verantis in Late Q4 and Announces Intention to Divest Fluid Handling Business</li>
<li>2025 Full Year Outlook Affirmed</li>
</ul>

CECO

Reported Earlier, CECO Environmental Reports Preliminary 2024 Revenue of $555M–$558M ($577.326M Est.) Down From $575M-$600M And Record $210M Q4 Bookings

IPOs

HVII

Reported Earlier, Hennessy Capital Investment Corp. VII Prices $175M Initial Public Offering Of 17.5M Units At $10/Unit

"Limertinib has demonstrated significant efficacy and safety in NSCLC patients with EGFR T790M mutation and EGFR-sensitive mutations. Patients treated with limertinib showed a reduced risk of CNS progression or death. This approval brings new hope and options to patients with advanced EGFR-mutated NSCLC in China," said Professor Shi Yuankai, MD, Department of Medical Oncology at Chinese Academy of Medical Sciences and Principal Investigator of the Phase 2b and Phase 3 clinical studies.

IVBIY

Reported Earlier, Innovent And ASK Pharm Announce NMPA Approval Of Limertinib For Advanced EGFR T790M-Mutated Lung Cancer

The distribution of shares of Twin Common Stock will be made on a pro rata basis to all&nbsp;holders of FAT Brands' Class A Common Stock and Class B Common Stock as of&nbsp;the close of trading on&nbsp;January 27, 2025 (the "record date"). The distribution will take the form of a special dividend of 0.1520207 share of Twin Common Stock distributed with respect to each one share of FAT Brands Class A Common Stock and Class B Common Stock outstanding as of the record date. The shares of Twin Common Stock are expected to be delivered after the close of trading on January 29, 2025 (the&nbsp;"distribution date"), subject to the satisfaction or waiver of certain conditions, and commence trading on the Nasdaq Global Market under the symbol "TWNP" on the next trading day.&nbsp;

Reported Earlier, FAT Brands Announces January 27, 2025, Record Date For Special Stock Dividend Ahead Of Twin Hospitality Spin-Off

&nbsp;i-80 GOLD CORP announces that, in connection with its previously announced prospectus offering of common shares of the Company (the "Shares") for aggregate gross proceeds of US$10,000,000 (the "Offering"), it has set the pricing of the Shares to be offered at C$0.80 (the "Offering Price").
 &nbsp;

IAUX

Reported Earlier, i-80 Gold Sets Pricing At C$0.80/Share For $10M Prospectus Offering

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has extended the free lifetime supercharging offer on foundation series Cybertrucks in its inventory to Jan. 31.
What Happened: Benzinga first noted the&nbsp;<a href="https://www.benzinga.com/tech/24/12/42524912/teslas-99k-foundation-series-cybertrucks-still-available-a-sign-of-possible-demand-hurdles" target="_blank" rel="noreferrer noopener">foundation series Cybertrucks in Tesla's inventory</a>&nbsp;in mid-December. Tesla has, since then, added offers&nbsp;<a href="https://www.benzinga.com/tech/24/12/42712707/tesla-offers-free-lifetime-supercharging-with-foundation-series-cybertruck-as-it-looks-to-clear-inventory" target="_blank" rel="noreferrer noopener">including free supercharging</a>&nbsp;on the vehicle if the order is placed on or after Dec. 27. The offer, it then said, will only be available for a limited time.
However, weeks later, there are still foundation-series Cybertrucks left in the inventory and the company is continuing to offer free supercharging during the period of initial ownership. 
The company now says on its website that it has extended the &#8220;limited&#8221; offer to orders placed on or after Dec. 27 and delivered by Jan. 31.
Why It Matters: The foundation series refers to a limited and pricier edition of the Cybertruck with laser-etched foundation series badges and premium accessories and a starting price of $99,990 for the base version.&nbsp;Tesla made only the foundation series Cybertrucks for the first few months of deliveries.
In October, however, Tesla started selling the <a href="https://www.benzinga.com/25/01/42891397/non-foundation-series-cheaper-cybertrucks-join-tesla-inventory">regular version of Cybertruck</a> priced about $20,000 lower than the foundation series. Demo vehicles as well as new Foundation series trucks <a href="https://www.benzinga.com/tech/25/01/42837223/teslas-foundation-series-cybertruck-inventory-still-haunts-elon-musk-led-ev-giant-despite-offers">continue to be sold</a> in its inventory. 
According to data from automotive research firm Kelley Blue Book, the Cybertruck was Tesla's third best-selling vehicle in the U.S. in 2024, after its mass-market offerings Model 3 and Model Y.
The company sold&nbsp;<a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data" target="_blank" rel="noreferrer noopener">38,965 units in the 12 months through the end of December</a>, significantly higher than the number of Tesla Model S or Model X sold in the country.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43024116/li-auto-says-l6-suv-deliveries-crossed-200000-units-in-less-than-9-months-of-launch" target="_blank" rel="noreferrer noopener">Tesla Rival Li Auto Says L6 SUV Deliveries Crossed 200,000 Units In Less Than 9 Months Of Launchations</a></li>
</ul>
Photo courtesy: Tesla

Tesla Extends Free Lifetime Supercharging Offer On Foundation Series Cybertruck Till Jan End

Chinese state-sponsored hackers have reportedly breached U.S. Treasury Secretary Janet Yellen's computer.
What Happened: The hackers also accessed the computers of deputy secretary Wally Adeyemo and acting under secretary Brad Smith, <a href="https://www.bloomberg.com/news/articles/2025-01-16/chinese-hacked-us-treasury-secretary-yellen-s-computer-in-breach?srnd=homepage-asia">reported</a> Bloomberg, citing two people familiar with the matter.&nbsp;
The breach managed to access less than 50 unclassified files from Yellen&#8217;s computer. The overall impact was far more extensive — with hackers accessing over 400 laptop and desktop machines, the report noted, citing a Treasury report reviewed by the publication.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43021026/apple-stock-has-moved-up-4-2-since-iphone-16-launched-analyst-says-it-has-another-8-upside-as-manufacturing-cost-decline-bolsters-cupertinos-margins">Apple Stock Has Moved Up 4.2% Since iPhone 16 Launched, Analyst Says It Has Another 8% Upside As Manufacturing Cost Decline Bolsters Cupertino&#8217;s Margins</a>
The intruders identified as the &#8220;Silk Typhoon&#8221; and &#8220;UNC5221,&#8221; seem to have been focused on information about sanctions, intelligence, and international affairs. However, they did not access the department&#8217;s email or classified systems.
The hackers were also able to obtain&nbsp; &#8220;law enforcement sensitive&#8221; data and information on investigations by the Committee on Foreign Investment in the U.S.
The congressional aides and lawmakers on Capitol Hill were briefed about the hack on Wednesday and Thursday.&nbsp;
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: This incident is the latest in a series of cyberattacks attributed to the Chinese government, targeting key U.S. federal departments.
Last month also it was reported that the Treasury was targeted by a Chinese <a href="https://www.benzinga.com/news/global/24/12/42734671/china-linked-hackers-breach-us-department-of-treasury">state-sponsored hacking group</a>.
In November 2024, a <a href="https://www.benzinga.com/news/24/11/42154276/us-confronts-chinese-cyber-espionage-threat-worst-telecom-hack-in-our-nations-history">major cyber-espionage campaign</a> by Chinese hackers targeted U.S. telecom providers, compromising phone calls and text messages.
Earlier in the year, the Federal Bureau of Investigation had also warned of Chinese hackers potentially <a href="https://www.benzinga.com/markets/asia/24/04/38346345/chinese-hackers-may-control-your-water-and-are-laying-in-wait-fbi-warns-3-startups-to-watch">controlling critical U.S. infrastructure</a>, including water-treatment facilities and energy grids. 
Photo via Shutterstock.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43018848/those-are-air-bubbles-the-time-steve-jobs-rejected-the-first-ipod-prototype-and-pushed-apple-engineers-to-think-smaller" target="_blank" rel="noreferrer noopener">Steve Jobs Dropped The First iPod Prototype In A Fish Tank And It Wasn&#8217;t To Test If It Was Waterproof</a></li>
</ul>

Media

Janet Yellen's Computer Hacked By Chinese Hackers, Attackers Obtain 'Law Enforcement Sensitive' Data By Targeting US Treasury Department

Activist investor Starboard Value LP has reportedly acquired a 7.7% stake worth approximately $500 million in Qorvo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) on Thursday, targeting the struggling semiconductor manufacturer for potential operational changes.
What Happened: The stake, led by Starboard CEO Jeff Smith, comes as Qorvo faces mounting challenges in the radio frequency chip market, reported the Wall Street Journal, <a href="https://www.wsj.com/finance/starboard-builds-big-stake-in-chip-maker-qorvo-7a18a71f">citing</a> sources. 
The Greensboro, N.C.-based company&#8217;s shares have declined nearly 28% over the past year amid intensifying competition from rivals like Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) and Skyworks Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>).
The investment represents a return to familiar territory for Starboard, which previously held a position in TriQuint Semiconductor before its 2014 merger with RF Micro Devices to form Qorvo. The activist firm has maintained a strong presence in the semiconductor sector, with past investments in NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>).
Qorvo&#8217;s recent performance has worried investors, with the company&#8217;s shares tumbling after missing Wall Street&#8217;s quarterly projections. CFO Grant Brown acknowledged these challenges in October, citing weaker demand for premium smartphones and announcing factory consolidation efforts to improve profitability.
Qorvo did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43047812/bill-ackman-calls-hindenburg-researchs-closure-a-big-loss-praises-short-sellers-contribution-to-capital-markets">Bill Ackman Says Hindenburg Research Closing &#8216;A Big Loss,&#8217; Praises Short Seller&#8217;s Contribution To Markets: &#8216;Short Selling Is Really Hard&#8217;</a>
Why It Matters: The chip maker, currently valued at approximately $7 billion, has struggled to maintain its market position as consumers shift toward entry-level Android devices. Wall Street analysts maintain a <a href="https://www.benzinga.com/quote/QRVO/analyst-ratings">consensus price target</a> of $97.65, though recent assessments from Goldman Sachs, Mizuho, and Loop Capital suggest more modest expectations with an average target of $77.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/17000713/Screenshot-2025-01-17-at-10.36.23%E2%80%AFAM-1024x376.png" alt="" class="wp-image-738146" style="width:540px;height:auto" /></figure>
Starboard&#8217;s investment in Qorvo adds to its <a href="https://www.benzinga.com/markets/equities/24/10/41419988/tylenol-listerine-maker-kenvue-under-activist-spotlight-with-starboard-value-stake-overhaul-ahea">recent string of activist positions</a>, including stakes in Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>), and Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>).
Price Action: Qorvo surged 7.08% in after-hours trading to $78.80 on Thursday. The stock closed at $73.59, down 0.77% on the regular trading session, and has fallen 27.43% over the past year, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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Chinese EV-making giant BYD Co Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) has now overtaken its American rival Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) twice in quarterly battery electric vehicle (BEV) sales in the past two years as competition intensified.
What Happened: BYD first <a href="https://www.benzinga.com/24/12/42680542/tesla-or-byd-which-ev-giant-will-sell-more-battery-electric-vehicles-in-q4">took over Tesla</a> as the world&#8217;s biggest BEV seller in the last quarter of 2023. Tesla took back the crown in the first quarter of 2024 and kept it for three consecutive quarters.
However, in the fourth quarter of 2024, <a href="https://www.benzinga.com/25/01/42780142/chinese-player-byd-overtakes-tesla-yet-again-as-worlds-biggest-ev-seller-in-q4">BYD took back the title</a> after selling 595,413 BEVs, significantly higher than the 495,570 delivered by Tesla in the period. 
For the entirety of 2024, BYD sold 1,764,992 BEVs, or just 24,234 units less than Tesla. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="690" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-1024x690.png" alt="" class="wp-image-738126" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-1024x690.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-300x202.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd-768x518.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16234455/FAQAk-quarterly-bev-sales-tesla-vs-byd.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
BYD also makes plug-in hybrids (PHEVs) in addition to BEVs, unlike Tesla which makes only BEVs, giving it another addressable market segment.
According to data research firm Rho Motion, 17.1 million EVs, including BEVs and PHEVs, will be sold in 2024.
In 2024, BYD sold 4.25 million passenger vehicles (both BEVs and PHEVs), accounting for roughly 25% of the world&#8217;s total EV sales in the period.
Tesla, in the period, sold 1.79 vehicles, or just 10.5% of overall global EV sales. 
Why It Matters: Tesla CEO Elon Musk dismissed BYD as a competitor in a Bloomberg <a href="https://www.bloomberg.com/news/videos/2023-12-27/in-2011-tesla-ceo-musk-mocked-chinese-competitor-byd-video">interview</a> in 2011.
&#8220;Have you seen their car?&#8221; Musk then laughed when the reporter asked about BYD rivaling his EV company. He added that he does not think the BYD product is &#8220;particularly attractive.&#8221;
The billionaire CEO, however, did a complete U-turn on this statement in January 2024. 
&#8220;Frankly, I think if there are not trade barriers established, they will pretty much demolish most other car companies in the world. So they&#8217;re extremely good." the CEO said about Chinese EV makers during the company&#8217;s earnings call after BYD trumped Tesla in quarterly deliveries for the first time. 
The rivalry between the two EV makers has only intensified since. In Q3 2024, BYD <a href="https://www.benzinga.com/news/24/10/41647639/teslas-chinese-rival-byd-outshines-elon-musks-ev-giant-in-quarterly-revenue-for-first-time-since-202">trumped Tesla in quarterly revenue</a> for the first time since 2022. BYD stopped making combustion engine vehicles in March 2022 to focus on electric vehicles.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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