(News Bulletin 247) – The German chipmaker Infineon raised its forecast for the current financial year on Thursday, but investors were worried about the outlook deemed less favorable in terms of margins.
The chip supplier, which is very present in the automotive industry, raised its annual turnover target to a midpoint of 16.2 billion euros, against 15.5 billion so far.
The Munich company also indicates that it expects a profit margin of around 27%, against 25% previously.
Stifel analysts note, however, that these forecasts suggest that profit margins may have peaked in the second quarter.
For its third quarter, Infineon says it is aiming for a margin of around 26%, while it posted a margin of 28.6% in its second quarter, which ended at the end of March.
While it emphasizes that its activity remains driven by the electromobility, renewable energy and energy infrastructure markets, the group admits that a rebound is slow to materialize in consumer sectors such as smartphones, PCs or laptops. ‘home appliance.
On the Frankfurt Stock Exchange, Infineon shares fell by more than 2% in the morning, signing one of the largest declines in the DAX index.
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