Tech stocks may be falling, but chipmakers continue to roll out strong results. Germany’s Infineon on Monday was bang on trend, reporting a (modest) profit beat in the second quarter and raising full-year sales guidance from €13bn to €13bn-€14bn.
Integrated device manufacturers such as Infineon and Samsung are riding a demand boost exacerbated by snagged supply chains. Infineon’s auto industry specialisation — more than two-fifths of sales — means it benefits from healthy trading in electric and assisted-driving vehicles.
Experts suggest more to come. Gartner last month upped its predictions, expecting a 13.6 per cent increase in global semiconductor revenues to $676bn this year.
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