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STMicroelectronics forecast improving sales for the second quarter on Thursday after its first-quarter result, which the chipmaker called the bottom point of the year, met its earlier expectations.
The company’s shares rose as much as 4% in early trading to the top of France’s main index CAC 40.
Chipmakers exposed to the automotive and industrial markets, like STMicro, NXP and Siltronic, have faced a multi-year long slump in sales. That led STMicro’s operating income to collapse 99.5% year-on-year in the first quarter.
One of Europe’s largest…
