NXP slides as weak forecast stokes demand worries among auto chipmakers

Shares of NXP Semiconductors fell 9% on Tuesday and dragged other automotive semiconductor companies lower, as its disappointing quarterly revenue forecast sparked concerns of a delay in demand recovery.

The Dutch company had a day earlier posted its worst quarterly revenue decline in four years and forecast third-quarter revenue of USD 3.15 billion to USD 3.35 billion, compared with analysts’ expectation of USD 3.36 billion.