Semiconductor giant ST Micro revises full-year forecast downward for the second time, and stock prices plummeted

July 25, 2024 at 6:57 PM GMT+9 (some excerpts)

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European semiconductor giant ST Microelectronics revised its full-year sales forecast and profit margin forecast downward on the 25th. This is the second downward revision following April.
As of 0727 GMT (4:27 p.m. Japan time), the company's stock has plummeted 10.5%.
Chief Executive Officer Jean-Marc Chery (CEO) stated, “Contrary to expectations, orders in the industrial sector did not improve, and demand in the automobile sector also declined.”
The company's business partners include Tesla and Apple.