Tower Semiconductor forecasts upbeat Q4 revenue; unveils $350 million investment plan

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Israeli contract chipmaker Tower Semiconductor forecast its fourth-quarter revenue above estimates on Wednesday, driven by a recovery in demand for its chips, and said it plans to invest $350 million to expand capacities.The U.S.-listed shares of the company were up 7.5 per cent in premarket trading.

FILE PHOTO: The logo of Israeli analog integrated circuits developer, Tower Semiconductor is seen at their offices in Migdal HaEmek, northern Israel, February 28, 2022. REUTERS/Amir Cohen/File PhotoIsraeli contract chipmaker Tower Semiconductor forecast its fourth-quarter revenue above estimates on Wednesday, driven by a recovery in demand for its chips, and said it plans to invest $350 million to expand capacities.

Slowing growth in demand for electric vehicles has kept inventory levels for chips used in the automotive industry at elevated levels. Tower Semiconductor expects to report fourth-quarter revenue of $387 million, with an upward or downward range of 5 per cent, beating analysts' expectations of $379.2 million, data compiled by LSEG shows.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 6. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Las Vegas Sands flags $10.6b investment to develop fourth tower at Marina Bay SandsThe project was initially announced in April 2019 at a cost of US$3.3 billion.
Bron: straits_times - 🏆 5. / 69 Lees verder »