Reported 26 days ago
STMicroelectronics has reduced its revenue outlook for the third time this year, now expecting $13.27 billion, as weak demand from industrial clients persists. The company is focusing on growth opportunities in the Chinese market, particularly in the EV sector, despite losing market share. Additionally, STMicroelectronics aims to capitalize on artificial intelligence applications with advanced silicon carbide chips to power AI processors.
Source: YAHOO