Chief Executive Jochen Hanebeck said that although an improvement in consumer goods markets such as smartphones, PCs and home appliances is not yet visible, he was confident overall about Infineon's future business performance.

The statement will embarrass many big tech companies who appear to be suffering from many “headwinds” and other nautical cliches.

Infineon now sees full-year revenues of $17.96 billion-plus or minus 300 million - compared with its previous forecast for 15.5 billion and with analyst consensus for 16.1 billion.

The group, whose chips are used in cars and data centres, had in February already lifted its full-year forecast on strong demand from carmakers, which are restocking inventories following a global chip glut, leading to higher prices.