Infineon Provided Solid Financial Results but Sees Signs of Overheating; Maintaining EUR 20 FVE
Infineon reported solid fiscal third-quarter results and provided investors with a fourth-quarter outlook that should put the company's year-end results at the high end of the firm's previous guidance. On the downside, management suspects that customers are double ordering power semiconductors, as the firm's book/bill ratio of 1.8 implies overheating, and chip orders sell in excess of what can be produced, shipped out, and billed. Such dynamics sometimes point to the top of an industry cycle, bu...
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