Infineon Technologies (IFNNY) Stock Jumps 7.4%: Will It Continue to Soar?

Infineon Technologies AG IFNNY shares ended the last trading session 7.4% higher at $72.22. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 45.2% gain over the past four weeks.Infineon Technologies benefits from strong demand in AI data center power supply solutions, automotive software-defined vehicles and radar sensors, industrial electrification, and HVAC systems.This company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +13.9%. Revenues are expected to be $4.51 billion, up 19.3% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Infineon Technologies, the consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IFNNY going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Infineon Technologies belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, Applied Materials AMAT, closed the last trading session 5.6% higher at $410.82. Over the past month, AMAT has returned 11%.For Applied Materials, the consensus EPS estimate for the upcoming report has changed +0.9% over the past month to $2.67. This represents a change of +11.7% from what the company reported a year ago. Applied Materials currently has a Zacks Rank of #2 (Buy).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks