3 European chip stocks to buy for Q3 earnings season: Jefferies
Jefferies identifies Infineon Technologies, Nokia, and ams OSRAM as top chip stocks for Q3 2026 earnings season. The firm warns of multiple compression already affecting European chip stocks, driven by an adverse base effect from DRAM price spikes in Q4 2025. Despite strong underlying demand, Jefferies expects only modest earnings beats and upgrades heading into the Q3 reporting season.
The implied downside in sector valuation multiples, which historically precede cycle peaks and troughs by 3-6 months, leads Jefferies to view most European semiconductor stocks as having underwhelming medium-term performance potential.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
