Infineon Raises 2023 Outlook on Automotive and Industrial Strength

Infineon Raises 2023 Outlook on Automotive and Industrial Strength
The logo of semiconductor manufacturer Infineon in Villach, Austria, on June 3, 2018. Lisi Niesner/Reuters
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FRANKFURT—German chipmaker Infineon has raised its outlook for both its financial second quarter and the whole of 2023, it said on Tuesday, citing “resilient business dynamics” at its automotive and industrials divisions.

The group said it now expected 2023 sales significantly above the 15.5 billion euros ($16.8 billion) forecast previously.