European chip stocks split after earnings; Soitec surges 23%

1. 1France's Soitec shares jumped roughly 23% on Thursday, as revenue beat expectations by a wide margin and pointed to accelerating demand for AI-related photonic wafers.
2. 2Soitec forecast second-quarter revenue growth of more than 30%, with its Photonics-SOI business expected to more than double from just above $100 million a year earlier.
3. 3Meanwhile, STMicroelectronics (STM) tumbled 15% as quarterly profit missed estimates, and Dutch equipment maker Besi slipped about 3% after second-quarter revenue came in slightly below forecasts despite solid orders.

Source Reuters · View original ↗

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