STMicro Outlook Miss Adds to Signs of Stalled Chip Recovery (2)

STMicroelectronics NV forecast fourth-quarter revenue that missed analysts’ expectations, signaling that a long-awaited recovery in the chip industry may be faltering.

The Franco-Italian semiconductor company, which supplies chips to Apple Inc. and Tesla Inc., expects revenue of $3.28 billion in the current quarter, it said in a statement Thursday. That compares to the average analyst estimate of $3.35 billion, according to data compiled by Bloomberg.

STMicro shares fell 7.2% to €23.66 at 11:20 a.m. in Paris trading. The shares have dropped 2.7% this year. Others in the chip industry also declined. Infineon Technologies AG dropped 1.2% in Frankfurt. NXP ...