IFNNY - Is Germany's Top Chipmaker a Great Value Stock to Buy Now?
2023-10-25 05:05:00 ET
The electrification and digitization process of the automobile is well underway and could be a top technology trend for many years to come. But that doesn't mean the transition will be smooth. The market got spooked this year as electric vehicle (EV) sales hit speed bumps and China -- the largest EV market -- struggles to rekindle economic growth.
As a result, top automotive chipmaker and Germany's (and thus Europe's) largest semiconductor manufacturer, Infineon (OTC: IFNNY) , has fallen hard as of late. Shares currently trade for less than 13 times trailing-12-month earnings. Does that make this a top-value stock to buy now?
Infineon may not be a household name, but it's a big player in the world of chips. It got its start as German industrialist Siemens ' in-house semiconductor unit before getting spun off as an independent business in 1999.
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Is Germany's Top Chipmaker a Great Value Stock to Buy Now?