STMicroelectronics slumps after Q3 sales outlook miss; Mizuho says buy the pullback
STMicroelectronics' shares dropped 17% after its third-quarter revenue outlook missed estimates, despite strong second-quarter results. The company has raised its medium-term data center revenue forecast for 2026 and 2027 due to strong AI datacenter demand. Mizuho maintains a "Buy" rating on the stock, noting …