STMicro Falls as CFO Warns of Price Pressures in Second Half
- STMicro slightly upgraded its 2023 revenue guidance Thursday
- Demand for electric vehicles has helped fuel STMicro’s growth
This article is for subscribers only.
STMicroelectronics NV shares fell as the chipmaker warned of price pressures in the second half.
“In the second part of the year we will see negative price pressure,” Chief Financial Officer Lorenzo Grandi said on a call with analysts on its first quarter results. STMicro has been buoyed by demand from carmakers and industry customers, which insulated it from a downturn in the broader semiconductor industry.