Infineon: shares edge higher ahead of CMD
(CercleFinance.com) - Infineon shares rose on Monday amid investor optimism ahead of the Capital Markets Day of the German chipmaker tomorrow in London.
Last Friday Infineon said it is seeing "strong long-term growth drivers" in its target markets, such as automotive, industrial, IoT and security applications.
As a result, the group's revenue is expected to increase by a minimum of 10% over the coming fiscal year at least.
For fiscal years after this accelerated growth period, Infineon assumes that revenue will grow at an average annual rate of 9% (vs. 8% previously).
After the strong quarterly results that were unveiled last month, investors had already anticipated such a development. The stock is currently up 0.8% after gaining 0.7% on Friday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Last Friday Infineon said it is seeing "strong long-term growth drivers" in its target markets, such as automotive, industrial, IoT and security applications.
As a result, the group's revenue is expected to increase by a minimum of 10% over the coming fiscal year at least.
For fiscal years after this accelerated growth period, Infineon assumes that revenue will grow at an average annual rate of 9% (vs. 8% previously).
After the strong quarterly results that were unveiled last month, investors had already anticipated such a development. The stock is currently up 0.8% after gaining 0.7% on Friday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.