Reported 1 day ago
STMicroelectronics has announced a delay in its long-term financial targets to 2030, aiming for $20 billion in annual revenue and over 30% operating margin, following three guidance cuts this year due to struggles in the industrial and automotive chip markets. Analysts view this as a positive adjustment, indicative of cyclical rather than structural challenges, while the company aims to achieve intermediate targets of $18 billion and a 22-24% operating margin for 2027-2028.
Source: YAHOO