Power Semiconductor Stocks Surge for 12 Consecutive Days, Market Cap Increases by 4 Trillion Won in Just One Day

ON Semiconductor (ticker: ON) closed at $93.45 on the Nasdaq, up 7.53%. The company’s market capitalization expanded to approximately $36.7 billion (around ₩50 trillion), with an additional $2.99 billion (about ₩4 trillion) gained in a single day. Trading volume reached roughly 9.02 million shares.

Over the past 12 trading days, the stock has climbed a cumulative 40%, boosting market cap by about $9.9 billion (nearly ₩14 trillion), analysts say. However, amid slowing earnings growth and margin pressures, several cautionary reports warn that the current valuation may be excessive (trefis.com). As global semiconductor stocks extend their longest-ever rally on hopes of AI infrastructure investment, ON Semiconductor—viewed as a leading beneficiary in the power-semiconductor segment—has drawn further buying interest (moneycontrol.com).

Headquartered in Arizona, ON Semiconductor is a power- and image-sensor-focused chipmaker whose core businesses include electric-vehicle (EV) and industrial power solutions, as well as data-center power semiconductors. Since taking the helm in 2020, CEO Hassan Elcuri has cut costs through restructuring and workforce reductions while concentrating on high-value power semiconductors for EVs and AI data centers. He also recently stated that, despite helium supply disruptions, the company proactively secured raw materials to minimize production setbacks this year (en.wikipedia.org).