Infineon Technologies Q4 Sales Expected to Grow

Shares of Infineon Technologies were higher Friday because the Apple supplier is expected to report strong revenue growth next week.
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Shares of Infineon Technologies AG (IFNNY) were higher Friday as the Apple (AAPL) - Get Report supplier is expected to report strong revenue growth next week. The German chipmaker is scheduled to report fourth quarter results on Wednesday. Forecasts are for sales of 6.5 billion euros, a 12% increase from a year prior. EBITDA is also expected to rise 27% to 1.7 billion euros. Analysts say the estimated growth is because of the demand from smartphone makers, especially after Apple saw strong iPhone 7 sales. (Apple is a holding in Jim Cramer's Action Alerts PLUS charitable trust.)

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