STMicroelectronics Delays Financial Targets, Blames Market Distortions
STMicroelectronics has delayed its long-term financial targets, pushing back its goal to reach $20 billion in annual revenue and a 30% operating margin to 2030, from the previous target of 2027. The semiconductor giant cited a continued downturn in its key automotive and industrial markets, while CEO Jean-Marc Chery also highlighted how government interventions are distorting markets. Despite these challenges, STMicroelectronics remains optimistic about its future growth.
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