STMicroelectronics NV is trading 5.6% up at $74.66 in pre-market trading, participating in a broader semiconductor sector recovery and building on strong recent company-specific news.
- The stock is rebounding along with other chipmakers after a sharp sector-wide sell-off last Friday.
- Last week, on June 2, STMicroelectronics nearly doubled its 2026 data center revenue forecast to approximately $1 billion, citing strong demand from the AI infrastructure buildout. This news caused the stock to surge over 15% on the day.
- Following the upgraded forecast, on June 4, UBS significantly raised its price target on the stock, further boosting investor confidence.