STMicro partners with Hua Hong as chipmakers need China, says CEO [Yahoo! Finance]
STMicroelectronics N.V. (STM)
Last stmicroelectronics n.v. earnings: 4/22 01:00 am
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Source: Yahoo! Finance
announced new plans to partner with Chinese foundry Hua Hong, arguing that having local manufacturing in China is vital to its competitive position. The remarks by CEO Jean-Marc Chery come amid demands by the European, U.S. and Chinese governments for more chip manufacturing to take place locally, and as many chip firms have been expanding in Singapore and Malaysia to serve Asian markets. But Chery, whose company is the biggest maker of energy-efficient Silicon Carbide (Sic) chips used in electric vehicles - with customers including Tesla and Geely - said the Chinese market proper is indispensable as the largest and most innovative for EVs, and it is not possible to compete adequately from outside. "If we give up our market (share) in China to another company working in the field of industrial or in the field of automotive, the Chinese players, they will dominate their market," he said. "And their domestic market is so huge, it will be a fantastic platform for them to compete
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STM
News
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- China's No 2 foundry to make legacy chips for Europe's STM, serving mainland market [Yahoo! Finance]Yahoo! Finance
- STMicroelectronics (NYSE: STM) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $33.00 price target on the stock.MarketBeat
- STMicroelectronics announces long-term targets at Capital Markets Day [Yahoo! Finance]Yahoo! Finance
- Optical Metasurface Market is Predicted to Reach US$ 644.1 Million with Expanding at a CAGR of 16.4% by 2034 | Fact.MR Report [Yahoo! Finance]Yahoo! Finance
STM
Earnings
- 10/31/24 - Beat
STM
Sec Filings
- 11/20/24 - Form 6-K
- 11/18/24 - Form 6-K
- 11/12/24 - Form 6-K
- STM's page on the SEC website