Munich Infineon’s business could hardly be better than it is at the moment. The chip company has orders worth around 37 billion euros on its books. This means that the factories of the Dax company are busy for almost three years. This is not just the inside view: The order situation is very good and there are no signs of a weakening or an inventory build, explains analyst Sandeep Deshpande from JP Morgan.
But investors don’t trust the numbers. Since the beginning of the year, the papers have lost more than a third of their value. In contrast, the leading German index, the Dax, only fell by a good ten percent. Infineon’s share price is riding a roller coaster on the stock market, so to speak: at the beginning of May, shares in Germany’s largest semiconductor manufacturer fell to their lowest level in a year and a half. From then on it went up again by ten percent in the meantime.
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