StMicroelectronics among the best on the Ftse Mib in the wake of Tsmc's accounts
The stock's positive streak since the beginning of the month continued. The Taiwanese group saw revenues rise 35% to $35.71 billion, beating market expectations
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(Il Sole 24 Ore Radiocor) - The wave of buying on technology stocks on both sides of the Atlantic is also supporting Stmicroelectronics at Piazza Affari. The semiconductor group's stock was one of the best performers in the FTSE MIB with a gain of more than two points, continuing the positive series that has been going on since the beginning of the month. Contributing to the positive trend were the results of Tsmc, the Taiwanese chip giant, which saw first-quarter revenues rise 35% year-on-year to USD 35.71 billion, beating market expectations thanks to growing interest in artificial intelligence applications.
Tsmc, which is the largest third-party chip manufacturer with Nvidia among its major customers, will publish full financial statements on 16 April. Taiwan Semiconductor Manufacturing Company's performance follows positive preliminary accounts from Samsung Electronics that showed increasing demand for artificial intelligence chips. On the Tokyo Stock Exchange, Kioxia Holding (+8%), a Japanese manufacturer of memory chips, also soared.
Returning to Stmicroelectronics - which is also among the best performers in Paris where the CAC 40 is up only modestly - the company led by Jean-Marc Chery will present its quarterly accounts on 23 April. Meanwhile, at the end of March St boosted production in China, starting the first deliveries of Stm32 microcontrollers, produced in cooperation with local foundry Huahong.
This is an important step - as the group explained - in Stm32's global supply chain strategy, which by 2026 envisages volume production of other Stm32 families locally. Thanks to this collaboration, in fact, St has become the first global semiconductor company to use a dual supply chain, with microcontrollers fully processed and manufactured in China that feature the same design and technology as those made in other countries.
