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Markets News

Infineon forecasts strong rebound in year ahead from coronavirus slump

BERLIN, Nov 9 (Reuters) - German chipmaker Infineon forecast that revenue would grow by nearly 23% in the year ahead as it reported fiscal fourth quarter results on Monday that were in line with analyst estimates.

The Munich-based chipmaker was forced to abandon guidance in March as the coronavirus hit - just before its $10 billion acquisition of U.S. Cypress Technologies closed - but has since staged a recovery led by China and the autos sector. (Reporting by Douglas Busvine Editing by Michelle Adair)

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