STMicroelectronics has announced a significant delay in its financial targets, pushing back its goal of achieving $20 billion in revenue to 2030. This decision comes amid a challenging market environment, particularly in the automotive sector, which has been experiencing a downturn. The company's shares have reacted negatively, falling 1.55% in premarket trading, despite maintaining a 'Buy' rating from analysts. Additionally, the CEO indicated that government actions are distorting market conditions, contributing to the company's struggles. The revised targets for 2025-2027 reflect the ongoing difficulties in the industry, with one competitor forecasting an 18% decline in Q1 due to inventory corrections affecting market visibility.