Infineon Assumes EUR/USD at 1.20 for Fiscal 1Q -- Currency Comment
November 10 2021 - 06:26AM
Dow Jones News
By Mauro Orru
Infineon Technologies AG assumes the euro will average $1.20
against the dollar within its guidance for the first quarter of
fiscal 2022.
The German chip maker's prediction is the same it is using for
the full fiscal year ending Sept. 30, 2022. The euro currently
trades at $1.1578.
Infineon's assumption of $1.20 is higher than the roughly $1.18
estimated by peer chip maker STMicroelectronics NV at the end of
October when it issued guidance for its fourth quarter that will
close on Dec. 31, the same as Infineon first quarter.
"Based on an assumed exchange rate of $1.20 to the euro,
Infineon expects to generate revenue of around EUR3 billion in the
first quarter of the 2022 fiscal year," Infineon said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 10, 2021 06:11 ET (11:11 GMT)
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