Himax (NASDAQ:HIMX), the fabless chip designer behind display driver chips for TVs, phones and car screens, expects a steep revenue drop in the final quarter of the year, and investors are punishing the stock amid an already bruising day for the market. On the company's earnings call Thursday, President and CEO Jordan Wu blamed "an abrupt and significant correction" in automotive display driver chip orders for the new guidance. Shares had plunged nearly 28% to $7.55 by about 2:30 p.m. ET on Thursday, a steep decline exacerbated by a broader market sell-off targeting AI-linked names. Image source: Getty Images.
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