STMicroelectronics cuts full-year outlook for second time-March 2024-www.financetom.com

STMicroelectronics cuts full-year outlook for second time

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STMicroelectronics cuts full-year outlook for second time

Jul 24, 2024 10:24 PM

July 25 (Reuters) - Franco-Italian chipmaker

STMicroelectronics (STM) on Thursday cut its

full-year revenues guidance for the second time this year as

industrial customer orders did not improve and automotive demand

declined.

The company, whose clients include Tesla and Apple ( AAPL )

, said it expects revenue in the range of $13.2 billion

to $13.7 billion for 2024, against a previous forecast range of

$14 billion to $15 billion.

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