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Auto chip demand slumps, leading to a successive downward revision of earnings expectations and a sharp drop in stock price at STMicroelectronics | Financial Report News
Due to the continuous low demand for chips in the automotive industry, STMicroelectronics has lowered its annual revenue and profit expectations for the second time. It is expected that the annual revenue will be between 13.2 billion and 13.7 billion US dollars, previously expected to be between 14 billion and 15 billion US dollars, with market expectations of 14.29 billion US dollars.
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STMicroelectronics Analyst Ratings