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STMicro cuts FY revenue outlook as slowing car demand bites
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STMicro cuts FY revenue outlook as slowing car demand bites
Apr 24, 2024 10:18 PM

April 25 (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 ( AAPL )

, 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.

Analysts polled by LSEG were expecting revenue of $16.1

billion for the year.

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