Reported 1 day ago
STMicroelectronics has delayed its long-term financial targets after multiple guidance cuts this year, predicting a continued decline in demand for industrial and automotive chips into 2025. The company aims for $20 billion in annual revenue and a 30% operating margin by 2030, affected by government market distortions and competition primarily from rising Chinese carmakers. CEO Jean-Marc Chery cited unusual supply chain behaviors attributed to government subsidies and export restrictions, while anticipating a recovery in different market sectors in the latter half of 2025.
Source: YAHOO