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Infineon reports strong forward guidance despite electric vehicle headwinds

Date: 04 May 2023

1 minute read

04 May 2023

If you are covering Infineon’s second quarter results, please see comment below from Ben Barringer, equity research analyst at Quilter Cheviot:

“We view German chipmaker, Infineon, as a winner in electric vehicles, solar, wind and energy transition applications. Today it has delivered strong results which beat market expectations, with automotive up 40 per cent and green power, which includes solar and wind, up 30 per cent. Infineon has good pricing with profitability being boosted by lower energy costs.

“There has been volatility in the power semi-conductor market due to concerns about a slowdown in autos and electric vehicles, which has prompted a slowdown at some of Infineon’s competitors such as ST Microelectronics. Despite this Infineon remains well positioned and is guiding full year growth of 14% which is pretty good in a recessionary environment.”

Tim Skelton-Smith

Tim Skelton-Smith

Head of External Communications