tiprankstipranks
Wells Fargo sees Infineon’s increased expectations as positive for NXP, others
The Fly

Wells Fargo sees Infineon’s increased expectations as positive for NXP, others

Wells Fargo notes that Infineon (IFNNY) increased its expectations for revenues and margins for Q2 and full year 2023. This was driven by resiliency in the company’s core automotive and industrial segments, the firm adds. Wells views this as a positive for its coverage of Analog Devices (ADI), Allegro MicroSystems (ALGM), Microchip (MCHP), NXP Semiconductors (NXPI), ON Semiconductor ON, etc. The firm also points out that these comments are in line with what Microchip recently stated at a sell-side conference. Wells thinks both data points are validation that analog/MCU chip companies with relatively low smartphone/PC/consumer exposure will experience a "soft landing."

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on IFNNY:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles