GENEVA (dpa-AFX) – Infineon’s competitor STMicroelectronics continues to benefit from the global shortage of chips. For the year as a whole, CEO Jean-Marc Chery is becoming more optimistic and now calculates sales of 15.9 to 16.2 billion US dollars, after previously 14.8 to 15.3 billion. In the second quarter, revenue rose 28 percent year-on-year to $3.8 billion, the company announced on Thursday. At $867 million, the surplus was more than double what it was a year ago.
A shortage of electronic chips in the automotive industry and in industry at large is causing high selling prices for semiconductors. For the third quarter, STMicro is forecasting revenues of EUR 4.24 billion, plus or minus 3.50 percent. Shares rose more than 2 percent on Thursday.
Analyst Janardan Menon from the investment house Jefferies believes that what he sees as a strong outlook is based on good business with chips for the new iPhone 14 and strong demand from the automotive and industrial sectors. However, he also warns that many companies are now hoarding electronic components because of the long lack of chips. From the final quarter, there could therefore be a risk of inventory reduction, which would weigh on chip demand./mis/ngu/zb