STMicro Reports Strong 1Q Results With Impressive Gross Margin Expansion; Raising FVE to $12
STMicroelectronics reported solid first-quarter results and provided investors with a bright second-quarter outlook, particularly on the gross margin line as the firm thinks it can reach the high end of its long-term target of 36%-38% next quarter. Business conditions appear healthy across all end markets, and the firm appears on pace to see a significant revenue boost in the second half of the year, most likely associated with products going into Apple's upcoming iPhones. We will raise our fair...
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