European chip group STMicroelectronics is more positive about its turnover for this year. The revenue forecast was revised upward to a range of $ 9.25 billion to $ 9.65 billion. It was previously aimed at an amount between 8.8 billion and 9.5 billion dollars.
For the third quarter, the company expects revenues of $ 2.45 billion, which is more than average analysts had predicted. STMicroelectronics points to new products being introduced and improved conditions in the chip sector. The company is a supplier to Apple and Tesla, among others. Capital expenditures are estimated at $ 1.2 billion this year.