What caused MX's Q2 2024 earnings to miss forecasts?

Magnachip Semiconductor's (MX) Q2 2024 earnings missed forecasts due to a combination of factors:

1. **Strategic Transition Impact**: MX is undergoing a strategic transition to become a pure-play Power company, which involves exploring options for its Display business. This transition likely led to some operational inefficiencies and a temporary decline in profitability.
2. **Market Conditions and Competition**: The semiconductor industry is highly competitive, and MX faces challenges from other companies offering similar products. The overall market conditions and competitive pricing pressures could have affected MX's revenue and profitability.

In summary, MX's Q2 2024 earnings miss was likely a result of a strategic transition and market conditions.