Reuters
(Reuters) -STMicroelectronics, one of Europe's largest chipmakers, said on Thursday it expected sales to fall further in the first quarter of 2025, as the downturn seen in its key markets drags on into the new year. "Our book-to-bill ratio remained below 1 in Q4 as we continued to face a delayed recovery and inventory correction in Industrial and a slowdown in Automotive, both particularly in Europe," CEO Jean-Marc Chery said in a statement. The company, whose clients include Tesla and Apple, sees first-quarter revenue of $2.51 billion, down from the $3.47 billion it reported a year earlier.