• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Articles
  • News
  • Events
  • Advertize
  • Jobs
  • Courses
  • Contact
  • (0)
  • LoginRegister
    • Facebook
    • LinkedIn
    • RSS
      Articles
      News
      Events
      Job Posts
    • Twitter
Datafloq

Datafloq

Data and Technology Insights

  • Categories
    • Big Data
    • Blockchain
    • Cloud
    • Internet Of Things
    • Metaverse
    • Robotics
    • Cybersecurity
    • Startups
    • Strategy
    • Technical
  • Big Data
  • Blockchain
  • Cloud
  • Metaverse
  • Internet Of Things
  • Robotics
  • Cybersecurity
  • Startups
  • Strategy
  • Technical

STMicro sets bullish mid-term targets, shares rise

Reuters / 1 min read.
May 12, 2022
floq.to/RjhRz

(Updates share price move)

By Mathieu Rosemain

PARIS (Reuters) -Franco-Italian chipmaker STMicroelectronics said it is hoping for over $20 billion in annual sales by 2027 at the latest, sending its shares higher as investors welcomed the prospect of prolonged growth underpinned by the digitalisation of the economy.

STMicro’s mid-term sales target represents about a 30% increase from the top range of its expectations for this year, at $15.3 billion.

The semi-conductor industry is running at full steam to the point that it recently hit bottlenecks that affected the output of major carmakers.

STMicro said that it was ramping up its production to meet soaring demand for chips and sensors that can now be found in increased number in smartphones, cars and a growing number of connected devices.

The electrification of the car industry, new mobile networks and a boom in cloud services are beefing up orders for the group’s chips, it said.

Chief Executive Officer Jean-Marc Chery said he expected sales of silicon carbide chips, aimed at improving the charging capacity of batteries in electric vehicles and the time between charges, to reach $1 billion in 2023, one year earlier than previously expected.

STMicro’s shares were up by about 2% at 1000 GMT, topping France’s blue-chip index CAC 40.

The stock is down by 22% so far this year, as the COVID-19 pandemic and the war in Ukraine fuelled market concerns about a sustained disruptions for the industry and an inflation of commodity and energy prices.

STMicro also hopes to to generate an operating margin of over 30% by 2027 at the latest.

The new guidance covers the 2025 to 2027 period, which means STMicro estimates it could reach the new sales and profit targets earlier, depending on market conditions.

The Geneva-based company, whose biggest clients include iPhone maker Apple and electric carmaker Tesla, set the new financial forecast just before the start of its capital markets day held in Paris.

(Reporting by Mathieu RosemainEditing by GV De Clercq and Kim Coghill)

Categories: News
Tags: Apple, industry, market, number, sales

About Reuters

Primary Sidebar

E-mail Newsletter

Sign up to receive email updates daily and to hear what's going on with us!

Publish
AN Article
Submit
a press release
List
AN Event
Create
A Job Post

Jobs

  • Software Engineer | South Yorkshire, GB - February 07, 2023
  • Software Engineer with C# .net Investment House | London, GB - February 07, 2023
  • Senior Java Developer | London, GB - February 07, 2023
  • Software Engineer – Growing Digital Media Company | London, GB - February 07, 2023
  • LBG Returners – Senior Data Analyst | Chester Moor, GB - February 07, 2023
More Jobs
Host your website with Managed WordPress for $1.00/mo with GoDaddy!

Tags

AI Amazon analysis analytics app application Artificial Intelligence BI Big Data business China Cloud Companies company costs crypto customers Data design development digital environment experience future Google+ government information learning machine learning market mobile Musk news Other public research sales security share social social media software strategy technology twitter

News

  • Ex-Apple designer Ive, OpenAI’s Altman discuss AI hardware -The Information
  • Samsung SDI to invest $2 billion to build second joint battery plant in US with Stellantis
  • China lists mobile app stores that comply with new rule, but Apple missing
  • Germany halts e-cars solar subsidy programme amid high demand
  • Pegatron India fire traced to workers’ failure to turn off switch -sources
More News

Related Online Courses

  • Oracle Cloud Data Management Foundations Workshop
  • Data Science at Scale
  • Statistics with Python
More courses

Footer


Datafloq is the one-stop source for big data, blockchain and artificial intelligence. We offer information, insights and opportunities to drive innovation with emerging technologies.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Recent

  • 5 Reasons Why Modern Data Integration Gives You a Competitive Advantage
  • 5 Most Common Database Structures for Small Businesses
  • 6 Ways to Reduce IT Costs Through Observability
  • How is Big Data Analytics Used in Business? These 5 Use Cases Share Valuable Insights
  • How Realistic Are Self-Driving Cars?

Search

Tags

AI Amazon analysis analytics app application Artificial Intelligence BI Big Data business China Cloud Companies company costs crypto customers Data design development digital environment experience future Google+ government information learning machine learning market mobile Musk news Other public research sales security share social social media software strategy technology twitter

Copyright © 2023 Datafloq
HTML Sitemap| Privacy| Terms| Cookies

  • Facebook
  • Twitter
  • LinkedIn
  • WhatsApp

In order to optimize the website and to continuously improve Datafloq, we use cookies. For more information click here.

Dear visitor,
Thank you for visiting Datafloq. If you find our content interesting, please subscribe to our weekly newsletter:

Did you know that you can publish job posts for free on Datafloq? You can start immediately and find the best candidates for free! Click here to get started.

Not Now Subscribe

Thanks for visiting Datafloq
If you enjoyed our content on emerging technologies, why not subscribe to our weekly newsletter to receive the latest news straight into your mailbox?

Subscribe

No thanks

Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Marketing cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!