(A double in the second sentence has been removed).

FRANKFURT (dpa-AFX) - Shares of Infineon did not benefit for long from the strong outlook of Nvidia on Thursday. While technology stocks across Europe are celebrating the fantasy in the artificial intelligence (AI) business, the German chipmaker's papers turned negative after gaining almost two percent.

Most recently, they fell by around one percent, continuing the weak weekly trend that has now pushed the share price down by around seven percent since last Friday. At just over 33 euros, they are once again heading towards the exponential 200-day line, currently at 32.14 euros.

Analyst Stacy Rasgon from the investment bank Bernstein had already pointed out a fly in the ointment in his positive commentary on Nvidia's outlook: sales in the automotive business. They suffered from the China weakness, the expert said. This allows negative conclusions to be drawn about Infineon, for which the automotive sector is extremely important.

With this week's decline, the stock is also moving away from the annual high of 38 euros reached at the end of March. However, with a price gain of around 17 percent this year, the share continues to outperform the Dax, having performed significantly worse than the leading index in 2022 with a drop of 30 percent./ag/zb