ON - Guidance From STMicroelectronics Suggests A Stronger Second Half Than Many Expected
For better or worse, short-term stock price performance is mostly a game of expectations, and expectations going into this reporting cycle were for semiconductor companies to lower guidance for the first quarter. While Xilinx (XLNX) was a notable exception, that expectation has held true conceptually, with Texas Instruments (TXN), Intel (INTC), and STMicroelectronics (STM) all guiding down, but the magnitude of the revisions seem to be less severe than feared.
Specific to STM, I’m still bullish on these shares even after a double-digit pop post-earnings. The market