Citigroup: Infineon's performance shows weak demand for automotive and industrial chips.

Analysts at Citigroup wrote in a research report that Infineon Technologies' data for the fourth quarter showed weak demand for semiconductors from automotive and industrial customers. The German chip maker's automotive business saw a 2% year-on-year decline in sales to 1.92 billion euros for the three months ending in September. Sales in the green industrial power sector fell by 8% to 463 million euros. Infineon CEO Jochen Hanebeck stated that momentum in the automotive and industrial sectors remains moderate due to cautious customer behavior. Infineon's stock rose by 1.2% to 34.30 euros.