STMicro sees Q4 sales growth, trims capex plan
STMicroelectronics, on Thursday said that it expected sales to rise in the fourth quarter compared with the current quarter, showing evidence of a sustained recovery after a multi-year downturn in its main markets.
One of Europe’s largest chipmakers, whose clients include Tesla and Apple, sees fourth quarter revenue reaching $3.28 billion, up from the $3,19 billion it reported this quarter.
Analysts polled by LSEG expected fourth quarter revenue at $3.34 billion, and $3.12 billion in the third quarter.
