STMicroelectronics forecasts Q4 sales below expectations due to weak automotive sales, disappointing investors. Revenue expected to be $3.28 billion, below analyst forecast of $3.34 billion. Company trims 2025 capex plans citing weakness in silicon carbide. Shares down 7.9% as lower sales to EV customer impact outlook.

Chipmaker STMicro cites lower sales to one EV customer, likely Tesla, affecting financial outlook. Capex plan now slightly below $2 billion, down from previous range. Capacity limitation mainly impacts silicon carbide. Analysts warn of muted industry up-cycle amid struggling automotive and consumer chip markets.

STMicro’s strong Q3 results boosted by imaging sensors and microcontrollers, but weakness in power and discrete products for cars and factories hurt performance. Cost-cutting plan on track despite opposition in Italy. Analysts raise concerns after Texas Instruments forecasts dour Q4, signaling a muted industry up-cycle.

Read more at Yahoo Finance: Chipmaker STMicro’s Q4 forecast hit by weak auto sales