BARCELONA, Nov 16 (Reuters) - STMicroelectronics is enjoying double-digit revenue growth and has further growth opportunities ahead, while remaining cautious about the boom and bust cycles of the semiconductor industry, its chief executive said on Thursday.
ST President and CEO Carlo Bozotti told investors at the annual Morgan Stanley Technology, Media and Telecoms Conference that “all the indicators are positive” in the company’s business, but said it remained careful about expansion moves.
“Frankly, we have in front of us additional opportunity to grow further with the visibility we now have,” Bozotti told investors.
Analysts, on average, expect the Franco-Italian chipmaker to deliver 2017 revenue growth around 17 percent to around $8.2 billion, reversing years of sales declines over the past decade.
“Certainly we see the opportunity to make another step forward. However we need to remain prudent and see that we are operating in a business that has cycles,” he said, adding: “We should not dream that this is a supercycle”. (Reporting by Eric Auchard and Matheiu Rosemain; Editing by Mark Potter)