Franco-Italian chipmaker STMicroelectronics advanced by two years a target of $12 billion in annual sales after a surge in global demand for semiconductors pushed the whole sector to work at full speed.<\/p>\n
The Geneva-based company, whose top clients include iPhone maker Apple and automaker Tesla, said on Thursday it now expected full-year revenues to be around $12.1 billion, a threshold it had postponed to 2023.<\/p>\n
The group added that it planned investments of $2 billion to meet booming orders for chips worldwide, which have led to shortages and forced some automakers, such as General Motors and Volkswagen, to cut production.<\/p>\n
STMicro posted better-than-expected revenue and profits for the first quarter of 2020. It reported first-quarter net revenues of $3.02 billion, beating a Refinitiv IBES estimate of $2.92 billion.<\/p>\n
The group’s gross margin of 39% for the period, exceeded its own expectations. It sees net revenues of about $2.9 billion and a gross margin of about 39.5% in the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
Franco-Italian chipmaker STMicroelectronics advanced by two years a target of $12 billion in annual sales after a surge in global demand for semiconductors pushed the whole sector to work at full speed. The Geneva-based company, whose top clients include iPhone maker Apple and automaker Tesla, said on Thursday it now expected full-year revenues to be around $12.1 billion, a threshold it had postponed to 2023. The group added that it planned investments of $2 billion to meet booming orders for chips worldwide, which have led to shortages and forced some automakers, such as General Motors and Volkswagen, to cut production. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-798370","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798370"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798370\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}