On June 4, STMicroelectronics fell 3.55% in pre-market trading, trading at $76.96 per share. The decline comes amid broad-based selling across the semiconductor sector, with profit-taking pressure mounting following the stock's sharp rally earlier in the week.
On the news front, the semiconductor sector saw widespread weakness, with Broadcom falling 10.58%, Marvell Technology down 2.64%, Micron Technology down 2.24%, and AMD down 1.64%. STMicroelectronics had surged over 11% on June 2 and hit a record high after the company raised its data center business revenue target to approximately $1 billion for the full year, nearly doubling its prior guidance of \"nicely above $500 million.\" With year-to-date gains already reaching 168% and the stock having just set a new 52-week high at $80.58, short-term profit-taking pressure intensified as the broader chip sector pulled back.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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