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IFX - Infineon Technologies AG News Story

€31.62 1.0  3.3%

Last Trade - 4:35pm

Large Cap
Market Cap £34.26bn
Enterprise Value £37.47bn
Revenue £8.59bn
Position in Universe 37th / 1053

BUZZ-Chipmakers gain after upbeat results from Nvidia, Applied Materials

Fri 16th August, 2019 12:23pm
** Shares of chipmakers Advanced Micro Devices  AMD.N ,
Micron Technology  MU.O , Analog Devices  ADI.O , Intel Corp
 INTC.O , Xilinx Inc  XLNX.O  up between 1.3% and 3% after
Nvidia  NVDA.O  and Applied Materials  AMAT.O  posted upbeat
    ** Shares of Nvidia up 5.5% at $156.9, while those of
Applied Materials rise 1.2% at $47.7 in light volumes
    ** European chipmakers - AMS  AMS.S , Infineon Tech
 IFXGn.DE , STMicro  STM.PA  also rise between 1.5% and 3%  
    ** Nvidia on Thursday beat Q2 results and said new high-end
graphics chips for video gamers was bringing its core business
back to "normalized" levels and raising profitability*:nL4N25B3Z0
    ** However, Mizuho and JP Morgan analysts cut their PTs on
Nvidia on data center (DC) weakness, after co missed DC revenue
    ** Morningstar analysts said they were surprised to see
notable weakness in DC sales, and Cowen & Co analysts said
hyperscale DC spending visibility remains unclear
    ** AMAT on Thursday also beat Q3 revenue and profit
    ** While AMAT operations are running smoothly, recovery
appears to still be several quarters out as increasing trade
tensions with China have raised specter of global recession that
would weaken already soft memory and display markets-
    ** At least 25 of 39 brokerages rate Nvidia "buy" or higher,
11 "hold" and three "sell" or lower; their median PT is $185
    ** Up to Thursday's close, Nvidia up ~11% and AMAT up ~44%

 (Reporting by Vibhuti Sharma in Bengaluru)
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