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STMicro cuts FY revenue outlook as slowing car market bites

(Reuters) -European chipmaker STMicroelectronics on Thursday lowered its full-year sales guidance, the latest semiconductor company to struggle with weakening demand from carmakers and a further decline in orders from laptop and phone companies. Analysts polled by LSEG were expecting revenue of $16.1 billion for the year. "During the quarter, automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing industrial correction acc...
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