STMicro cuts FY revenue outlook as slowing car demand bites
The Star Online - Tech·2024-04-25 14:00
(Reuters) - European chipmaker STMicroelectronics on Thursday lowered its full-year sales guidance, the latest semiconductor company to struggle with weakening demand from carmakers and a further decline in orders from laptop and phone companies.
The company, whose clients include Tesla and Apple, said it expects revenue in the range of $14 billion to $15 billion for 2024, down from its previous forecast range of $15.9 billion to $16.9 billion.
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