STMicro lowers full-year sales guidance as chip market remains volatile [Reuters]
STMicroelectronics N.V. (STM)
Last stmicroelectronics n.v. earnings: 4/22 01:00 am
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Source: Reuters
STMicro lowers full-year sales guidance as chip market remains volatile - Reuters 2 Min Read PARIS (Reuters) - Franco-Italian chipmaker STMicroelectronics lowered its full-year sales guidance on Thursday in spite of improved activity in the second-quarter, signaling how the sector remains volatile given trade tensions between the United States and China. The supplier to iPhone maker Apple ( AAPL.O ) and electric carmaker Tesla ( TSLA.O ) is betting on the success of its more sophisticated chips and sensors for the smartphone and auto industries to increase sales, but weaker demand for older and mass-markets products is having a toll. STMicro said it was now forecasting full-year net revenue in the range of $9.35-$9.65 billion, down from an earlier target presented in May of $9.45-$9.85 billion. The Geneva-based group managed to grow, as expected, its second-quarter net revenue from the previous one, posting an increase of 4.7% growth to $2.17 billion. Yet its gross margin was lowe
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News
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STM
Earnings
- 4/25/24 - Miss
STM
Sec Filings
- 4/25/24 - Form 6-K
- 4/22/24 - Form 6-K
- 4/22/24 - Form 6-K
- STM's page on the SEC website