For Q3, the company sees the same improvements as Texas Instruments and STMicroelectronics as markets recover in the second half of the year. The company expects Q3 revenue at $2bn, down about 12 percent on Q3 2019 but up 10 percent from Q2.
”Automotive is expected to be down in the low 20 percent range versus Q3 2019, and up about 20 percent versus Q2 2020. Industrial and IoT is expected to be up in the mid teens range versus Q3 2019 and is expected to be up in the mid teens range versus Q2 2020,” said Sievers. “Mobile is expected to be down in the low teens range versus Q3 2019. Again, the year-on-year trends are being impacted by the sale of the voice and audio business. On a sequential basis, mobile is expected to be up about 10 percent versus Q2 2020.”