Infineon Technologies AG, Europe's second-biggest semiconductor maker, dropped to its lowest in four-and-a-half years after analysts cut price targets amid widening losses at the German company.
Shares of Infineon dropped as much as 0.78 euro, or 8.6 percent, to 8.32 euros -- the biggest decline since March 2003. They traded at 8.41 euros as of 12:08pm in Frankfurt trading.
Infineon said on Wednesday its net loss widened to 280 million euros (US$408.6 million) in the quarter ended Sept. 30 from 36 million euros a year earlier after prices at its memory-chip unit Qimonda AG slumped.
"Qimonda will continue to drag on Infineon," Jerome Ramel, an analyst with Exane BNP Paribas in Paris, said in a research note yesterday.
Ramel rates Infineon "underperform" and cut his price target by 25 percent to 7.70 euros.
Goldman Sachs also reduced its price target for Infineon to 12 euros from 13.50 euros.
Infineon completed an initial public offering of Qimonda in August last year to reduce its dependence on markets with volatile demand and prices.
The Munich-based company now focuses on custom-made chips for mobile phones, credit cards and cars.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
RECORD-BREAKING: TSMC’s net profit last quarter beat market expectations by expanding 8.9% and it was the best first-quarter profit in the chipmaker’s history Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which counts Nvidia Corp as a key customer, yesterday said that artificial intelligence (AI) server chip revenue is set to more than double this year from last year amid rising demand. The chipmaker expects the growth momentum to continue in the next five years with an annual compound growth rate of 50 percent, TSMC chief executive officer C.C. Wei (魏哲家) told investors yesterday. By 2028, AI chips’ contribution to revenue would climb to about 20 percent from a percentage in the low teens, Wei said. “Almost all the AI innovators are working with TSMC to address the
Malaysia’s leader yesterday announced plans to build a massive semiconductor design park, aiming to boost the Southeast Asian nation’s role in the global chip industry. A prominent player in the semiconductor industry for decades, Malaysia accounts for an estimated 13 percent of global back-end manufacturing, according to German tech giant Bosch. Now it wants to go beyond production and emerge as a chip design powerhouse too, Malaysian Prime Minister Anwar Ibrahim said. “I am pleased to announce the largest IC (integrated circuit) Design Park in Southeast Asia, that will house world-class anchor tenants and collaborate with global companies such as Arm [Holdings PLC],”