STMicroelectronics shares plunge on weak Q3 revenue outlook

1. 1STMicroelectronics (STM) saw its largest drop in a year after its third-quarter revenue outlook fell short of expectations
2. 2The midpoint of its Q3 revenue guidance came in at $3.7 billion, up about 16% year-over-year but below the analyst consensus of $3.79 billion, and shares fell as much as 17% intraday
3. 3Shares had gained 119% year-to-date on AI data-center demand, but the outlook has dimmed hopes for a strong recovery

Source Bloomberg · View original ↗

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