STMicroelectronics, a European chipmaker, surpassed expectations for third quarter sales due to strong demand from the automotive sector. Its third quarter net revenues increased by 2.5% compared to the previous year. However, the company anticipates a decline in sales for the fourth quarter. STMicro’s Chief Executive, Jean-Marc Chery, mentioned that the revenue growth was mainly driven by the automotive industry but was partially offset by lower revenues in the personal electronics sector. The semiconductor sector has benefited from demand from car manufacturers, which has helped mitigate the impact of trade conflicts and sluggish consumer electronics demand. However, there are concerns that the demand for electric vehicles, a key driver of growth, could experience a slowdown. STMicro predicts a gross margin of 46% in the fourth quarter.
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