STMicroelectronics shares plunge 18% as a soft Q3 forecast overshadows Q2 earnings beats and expanding AI data center targets.
STMicroelectronics N.V.
(NYSE:STM) stock fell sharply Thursday after the chipmaker issued an underwhelming third-quarter revenue outlook, overshadowing second-quarter results that topped Wall Street expectations.
The semiconductor supplier to Apple Inc.
(NASDAQ:AAPL) and Tesla Inc.
(NASDAQ:TSLA) reported revenue of $3.49 billion, up 26% from a year earlier and ahead of the analyst consensus estimate of $3.38 billion, according to Benzinga Pro.
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