These 2 Clean Energy Leaders Plunged on Earnings, But Only 1 Is a Screaming Buy

Many stocks involved in the clean energy transition -- either renewable power generation, or the transition to electric vehicles (EVs) -- have been absolutely hammered lately. In fact, during this rapid rise in interest rates, even the highest-quality leaders in the space have seen precipitous drops in their share prices.

Case in point: Over the past week, both silicon carbide chip leader ON Semiconductor (NASDAQ: ON) and solar microinverter company Enphase Energy (NASDAQ: ENPH) plunged after issuing dire guidance for the current quarter.

But assuming the EV market and residential solar market have years of growth ahead, these declines could be opportunities to pick up shares of industry leaders on the cheap for the long run.

Source Fool.com