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IFX - Infineon Technologies AG News Story

€30.47 -1.0  -3.3%

Last Trade - 12/05/21

Sector
Technology
Size
Large Cap
Market Cap £35.20bn
Enterprise Value £38.41bn
Revenue £8.58bn
Position in Universe 36th / 1053

UPDATE 1-European chipmakers tumble after Broadcom dashes hopes of rebound in demand

Fri 14th June, 2019 8:40am
(Adds comment, tech stocks)
    LONDON, June 14 (Reuters) - European semiconductor stocks
fell on Friday after U.S. chipmaker Broadcom  AVGO.O  warned a
U.S.-China trade conflict and export restrictions on Huawei
 HWT.UL  were causing a broad slowdown in demand for chips.
    Shares in ASML  ASML.AS , STMicroelectronics  STM.MI ,
Siltronic  WAFGn.DE , ASM International  ASMI.AS , Infineon
 IFXGn.DE , and AMS  AMS.S  tumbled by 2.7% to 6.6% as the
warning reignited fears chipmakers would not keep to their
promises of a second-half recovery.
    "It's not just Huawei, it's deeper than that. Visibility is
shot. OEMs  carmakers  aren't ordering. Inventory concerns,
which were supposed to ease, have not gone away," said a trader.
    "Goodbye H2 recovery hopes!" he added.
    The falls in chipmakers - which make components used in
sensors for smartphones, cars, and medical equipment - drove
Europe's tech sector index  .SX8P  down 1%, the worst-performing
sector in Europe on Friday morning.
    They followed an overnight fall in U.S. semiconductor stocks
after California-based Broadcom's warning of a broad slowdown in
chip demand.  urn:newsml:reuters.com:*:nL4N23K49T
    The CEO of chipmaker Micron Technology  MU.O  also said the
ban on Huawei brings uncertainty and disturbance to the
semiconductor industry.  urn:newsml:reuters.com:*:nL4N23L1IF

 (Reporting by Helen Reid, Editing by Josephine Mason and Susan
Fenton)
 ((Helen.Reid@thomsonreuters.com; +44 20 7542 0402;))
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