He said there are signs of re-stocking and order growth, particularly in China, Taiwan, Korea and Singapore and stabilisation in the US and Europe.
But Bozotti said it was still too early to say whether the renewed demand was the start of a sustained recovery or the prelude to a "double-dip" downturn.
"It will be six to eight weeks before we can tell whether it is a trend," he said.
If the positive trend is confirmed, Bozotti said company sales will still take some time to return to the pre-downturn level $2.9bn a quarter, but a recovery to at least $2.3bn is possible within a year.
Like Intel, STMicroelectronics has implemented a set of cost cutting measures in the face of a net loss of £257m for the first quarter of 2009, including cuts of up to 4,500 jobs.
Falling demand for PCs in 2008 has hit several large chip manufacturers, including Intel, AMD, Texas Instruments and Samsung.