Infineon stock hikes on guidance beat, demand from auto sector

Shares in Infineon rose 11 per cent after the German chipmaker slightly upgraded its full-year revenue outlook and reported quarterly results and guidance above expectations.
The outlook differs from other makers of microchips for cars and for industrial use that have missed expectations, in some cases by a wide margin, Juergen Wagner, an analyst from Stifel said.
"The Power & Sensor segment is also expected to be up significantly in FY25, most likely due to Infineon's (artificial intelligence) server products," the analyst added.
"Following the expected inventory reduction, we continue to anticipate that the recovery in demand will be gradual for the current fiscal year," CEO Jochen Hanebeck said in a statement, referring to the group's 12-month accounting period until end-September.
The company also said it expects fiscal second-quarter revenue of 3.6 billion euros ($3.7 billion), beating a company-provided analyst forecast of 3.42 billion.
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