STM flies with the accounts, FTSEMIB top title

STM flies with the accounts FTSEMIB top title

(Finance) – Rise for STMicroelectronicswhich changes hands in strong gains, exceeding the previous values ​​​​by 7.09%.

The 2022 accounts contribute to giving life to the shares, which showed a profit of almost 4 billion dollars. For 2023, revenues are expected “in the range of $16.8 billion to $17.8 billion.” This was stated by the president and managing director of STM Jean-Marc Chery underlining that the forecast is based “on the strong demand from our customers and on the increased manufacturing capacity”. “We plan to invest around 4 billion dollars – adds the top manager – mainly to expand our 300mm silicon wafer plants and our silicon carbide manufacturing capacity, including our substrates initiative”.

By comparing the performance of the stock with the FTSEMIBon a weekly basis, it is noted that theItalian-French semiconductor company maintains positive relative strength compared to the index, demonstrating greater appreciation by investors compared to the index itself (weekly performance +6.88%, compared to +0.17% of the main index of the Milan Stock Exchange).

Technically, STMicroelectronics it is in a strengthening phase with a resistance area seen at 43.02 Euros, while the most immediate support can be glimpsed at 41.62. At an operational level, a continuation of the session under the banner of the bull is expected with resistance seen at 44.42.