💨 Abstract

STMicroelectronics, a major European semiconductor firm, has delayed its long-term financial targets to 2030, aiming for $20 billion in revenue and an operating margin above 30%. The company has been affected by slumping markets for industrial and automotive chips, causing its stock to decline 49% this year. Analysts view this as a positive move, indicating cyclical rather than structural issues.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖