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STMicro Forecasts Weak Q4 Sales as Automotive Demand Falters

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European chipmaker STMicroelectronics projected fourth-quarter revenue below market expectations, citing soft demand from the automotive sector that offset gains in other markets. The company expects revenue of $3.28 billion for the quarter, compared to analyst forecasts of $3.34 billion, according to LSEG data. Shares fell nearly 8%, making STMicro the worst performer on France’s CAC 40 and Italy’s FTSE MIB indexes.

The Franco-Italian firm, which counts Tesla and Apple among its top customers, said weaker sales to a major electric vehicle client — widely believed to be Tesla — weighed on results. CFO Lorenzo Grandi confirmed that lower demand for silicon carbide chips, used in EVs, led to reduced capital spending plans for 2025. STMicro now plans to invest slightly under $2 billion, down from its previous $2–2.3 billion range.

Analysts from JPMorgan described the current semiconductor recovery as “very muted,” despite signs of improvement in imaging sensor and microcontroller sales. STMicro also reiterated that its cost-cutting program remains on track following resistance in Italy.

Wolfspeed Eyes Bankruptcy Filing Amid Debt Struggles and Weak Demand

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Wolfspeed, a leading U.S. semiconductor firm specializing in silicon carbide chips, is reportedly preparing to file for Chapter 11 bankruptcy within weeks, according to sources cited by The Wall Street Journal. The move comes as the company faces mounting debt, weakened demand, and heightened market uncertainty due to tariffs and macroeconomic pressures.

Shares of Wolfspeed (WOLF.N) plunged more than 57% in after-hours trading following the news.

The company, which serves industrial and automotive markets, has been wrestling with declining demand and recently rejected multiple out-of-court debt restructuring proposals. It is now seeking a court-supervised process with the backing of a majority of its creditors, as part of a pre-packaged bankruptcy strategy.

Earlier this month, Wolfspeed signaled financial distress by raising “going-concern” doubts and significantly lowering its revenue outlook. It forecast $850 million in revenue for fiscal 2026, falling short of analysts’ consensus of $958.7 million.

Wolfspeed declined to comment on the bankruptcy report when contacted by Reuters.

As one of the few major U.S. producers of silicon carbide chips — vital for electric vehicles and renewable energy systems — the company’s financial woes could ripple across the supply chain, especially as global chipmakers face persistent economic headwinds and shifting trade dynamics.

Wolfspeed Appoints Robert Feurle as CEO Amid Industry Challenges

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Chipmaker Wolfspeed (WOLF.N) has named Robert Feurle as its new CEO, effective May 1, replacing interim chief Thomas Werner, who will resume his role as chairman. Feurle, a seasoned semiconductor executive, previously held key positions at Micron Technology, Infineon Technologies, and ams-OSRAM AG.

The leadership change follows the board’s decision to oust former CEO Gregg Lowe in November without cause. Wolfspeed has been restructuring its operations, including facility closures, to improve profitability amid slowing demand from automotive, industrial, and energy markets.

Feurle expressed confidence in revitalizing the company’s operating plan and accelerating its path to positive free cash flow. Wolfspeed continues to focus on silicon carbide technology, with significant investment in a 200-millimeter silicon carbide fab to enhance efficiency and production capacity.

Despite the announcement, Wolfspeed’s shares fell about 2% in early trading.