EV Chipmakers Test Investor Faith After Missing Out on AI Rally [BNN Bloomberg (Canada)]
STMicroelectronics N.V. (STM)
Last stmicroelectronics n.v. earnings: 4/22 01:00 am
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Source: BNN Bloomberg
But analysts are urging long-term investors to keep the faith. Infineon Technologies AG and STMicroelectronics NV, two bellwethers of the automotive chip industry, are each down more than 18% in 2024, placing them among the worst-performing tech stocks in Europe. US-listed NXP Semiconductors NV and Texas Instruments Inc. have lagged gains in the Philadelphia Semiconductor Index. Signs of weaker EV demand are piling up, evidenced by shockingly low sales figures at Tesla Inc. Rising inventories and competition from Chinese chipmakers have added to the gloom. Still, bulls are mostly undeterred — Infineon and STMicro have only one sell recommendation between them. “We think they will weather the storm in the near term,” said Morningstar Inc. analyst Brian Colello, who rates both stocks as buy. “We think it's a good entry point if you're willing to hold these names for two to five years' stretch.” The number of chips used in cars has seen a sharp rise as automakers adopt electric m
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News
- Silicon Carbide Market Size to Worth USD 11.29 Billion by 2033 [Yahoo! Finance]Yahoo! Finance
- Power Management Integrated Circuit Market is Poised to Reach USD 54.69 Billion By 2032: Astute Analytica [Yahoo! Finance]Yahoo! Finance
- Global Silicon Carbide Market Analysis and Outlook 2024-2029: Growing Deployment of SiC Devices in EVs Driving the Market [Yahoo! Finance]Yahoo! Finance
- STMicroelectronics Announces Status of Common Share Repurchase ProgramGlobeNewswire
- STMicroelectronics (NYSE: STM) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
STM
Earnings
- 4/25/24 - Miss
STM
Sec Filings
- 4/29/24 - Form 6-K
- 4/25/24 - Form 6-K
- 4/22/24 - Form 6-K
- STM's page on the SEC website