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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