Tech Up as Infineon Buoys Chip Stocks — Tech Roundup – Morningstar.com

The technology sector rose after an earnings report from one major semiconductor company buoyed the sub-sector.

Shares of German chip maker Infineon Technologies rose sharply after it reported a rise in fourth-quarter profit despite a drag on its business from weakening global auto demand. Semiconductor prices have “surged” recently, boding well for industrial activity, according to strategists at brokerage Bank of America Merrill Lynch Global Research.

Tesla Chief Executive Elon Musk said the electric-car maker would build a planned European plant to assemble electric vehicles in Germany.

Write to Rob Curran at rob.curran@dowjones.com


(END) Dow Jones Newswires

November 12, 2019 16:53 ET (21:53 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


Leave a Reply