Business Strategy and Outlook
| Brian Colello, CPA |STMicroelectronics is one of Europe's largest chipmakers and holds one of the broadest product portfolios in the industry. We are pleased to see the company make structural improvements to its product mix and margin profile, which has allowed it to carve out a narrow economic moat, in our view. We think ST has some promising growth opportunities on the horizon in microcontrollers, sensors, and automotive products, including silicon carbide-based semiconductors.