(Reuters) – STMicroelectronics (ST) said on Wednesday it will stand by the 2030 targets plan it laid out in 2022, despite three outlook cuts this year amid a slump in markets for the industrial and automotive chips it makes.
Europe’s largest semiconductor manufacturer by revenue reiterated its revenue forecast to reach $20 billion by 2027, with an operating margin above 30%. (This story has been corrected to fix the currency from euros to dollars in paragraph 2)
(Reporting by Nathan Vifflin and Toby Sterling; Editing by Kim Coghill)
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