Shares of German microchip maker Infineon Technologies XE:IFX 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 €4 billion, compared to a prior view of around €3.9 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 €15.5 billion, with a corresponding positive impact on margins.
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