STMicroelectronics delays $20 billion sales target to 2030 due to chip surplus and slower demand.

STMicroelectronics, a supplier to Tesla, has pushed its $20 billion sales target to 2030 due to a chip inventory surplus and slower demand in automotive and industrial sectors. The company now forecasts $18 billion in sales for 2027 and 2028, with sales expected to surpass $20 billion by the end of the decade. Gross margins are projected to rise from 44-46% in 2027 and 2028 to around 50% by 2030.

November 20, 2024
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