Why Cadence Design Systems Fell 13% in July
Cadence(CDNS) The Motley Fool·2024-08-06 20:00
A solid earnings beat wasn't enough to quell fears that the AI trade may have run too far too fast.Shares of semiconductor design software maker Cadence Design Systems (CDNS -1.12%) fell 13% in July, according to data from S&P Global Market Intelligence .Cadence sells software and tools that help companies design semiconductors. So in the age of AI and with big cloud companies now investing in their own chip designs, Cadence's revenue has accelerated in recent years.Even though Cadence delivered solid secon ...