Two Brokers Cut Infineon Targets as Chip Stocks Buckle Before Nvidia Test
Published on 11/14/2026 at 14:21 | Editorial boerse-global.de
Infineon shares slid 2.1% yesterday, caught in a broad retreat across the semiconductor complex as weak cues from Wall Street weighed on the sector. Süss MicroTec and Aixtron fell alongside the Munich chipmaker, with Reuters attributing the selling to fresh anxiety over Nvidia. The Philadelphia Semiconductor Index dropped 4% on the day, according to the news agency.
Attention now turns to Nvidia's upcoming quarterly results, widely cast as the next proving ground for the artificial-intelligence trade. Dow Jones also flagged the expected initial public offering of Anthropic as a looming milestone for the sector — another reason for investors to keep their powder dry.
Bank of America and Deutsche Bank trim targets, keep buy calls
The pressure on AI spending assumptions had already surfaced in analyst notes. On Wednesday, Bank of America lowered its Infineon price target to EUR 80 from EUR 88 while reaffirming its buy rating, citing questions over how AI investments will be financed and monetised, as well as possible permitting restrictions on data centres.
Deutsche Bank Research followed on Thursday, cutting its target to EUR 75 from EUR 85 — and likewise sticking with a buy recommendation. Neither house wavered on its rating even as the price objectives came down.
Should investors sell immediately? Or is it worth buying Infineon?
A EUR 20 billion ambition with a data-centre core
The target cuts landed against a backdrop of ambitious guidance. Infineon said on Tuesday that it expects revenue of roughly EUR 20 billion for fiscal 2027, a gain of more than 20%, with profitability set to improve by 5 percentage points. Close to EUR 4 billion of that top line is projected to come from power supplies for data centres.
For the fourth quarter of fiscal 2026, the company reported revenue of EUR 4.71 billion and a segment result of EUR 1.12 billion. Both the quarter and the fiscal year closed on 30 September. Management guided to around EUR 4.6 billion in revenue for the first quarter of the new fiscal year.
Buyback earmarked for employee programmes
Alongside the numbers, Infineon launched a share buyback on Wednesday covering up to seven million of its own shares, with a maximum volume of EUR 450 million. The programme runs on Xetra from 11 November until no later than 27 November 2026 and is intended to satisfy existing employee participation schemes — a defined purpose attached to a capped financial outlay.
Infineon at a turning point? This analysis reveals what investors need to know now.
Investors will get their next look at the company's progress on 3 February 2027, when Infineon publishes results for the first quarter of fiscal 2027.
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