NXP Semiconductors Shares Drop After Weak Q3 Forecast

Automotive demand slump and geopolitical tensions contribute to revenue decline, missing analyst expectations.

NXP forecasts Q3 revenue between $3.15 billion and $3.35 billion, below the $3.36 billion expected.
Automotive segment revenue fell 7% in Q2, the largest decline in over three years.
Geopolitical risks, including strained China trade relations, pose additional challenges.
Shares dropped approximately 8% in extended trading following the forecast.
Investors should monitor the $248 support level for potential price stabilization.