STMicro sees more sales growth in fourth-quarter despite Huawei ban

The Geneva-based company, whose major clients include iPhone maker Apple and carmaker Tesla, was also positive on the outlook for 2021, helping its share to reverse declines earlier on Thursday. STMicro said it was expecting fourth-quarter sales to grow by about 12% from the previous quarter to $2.99 billion and to generate a gross margin of about 38.5%, or two and a half percentage points higher than in the quarter that ended in September. This forecast takes into account the loss of sales from Huawei, the world’s biggest telecoms equipment maker, following new curbs imposed by U.S. …read more

Source:: Yahoo Finance


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