Infineon Technologies shares jump on improved guidance
Shares of German microchip maker Infineon Technologies rose as much as 8% as it upgraded its 2023 view, citing "resilient business dynamics in its core automotive and industrial segments." Infineon said it now expects second quarter revenue above EUR4 billion, compared to a prior view of around EUR3.9 billion, which will result in a "segment result margin" in the high 20s versus previous guidance of around 25%. For the year, assuming a euro at $1.05 for the second half of the year, it now sees revenue meaningfully above the previous view of around EUR15.5 billion, with a corresponding positive impact on margins.
-Steve Goldstein
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03-29-23 0518ET
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