FRANKFURT (dpa-AFX) - Aixtron shares intensified their downward trend on Thursday. The share price slumped by up to 21 percent in early trading after the outlook of the equipment manufacturer for the chip industry failed to convince investors. This was compounded by bad news from customer AMS-Osram. The shares reached their lowest level since April 2023 and were recently able to stem the decline somewhat to a good 14 percent. This put them at 27.11 euros.

With the price slump, the shares remain under pressure in 2024. The annual loss grew to around 30 percent on Thursday. However, investors can also look back on five consecutive years of profits with a total share price increase of around 360 percent.

The chip industry supplier is expecting at least significantly slower growth in 2024. In initial reactions, traders described the outlook as disappointing, both for the year as a whole and for the first quarter.

According to Borsians, the news that AMS Osram, an Aixtron customer, had to abandon a key project in its strategy with MicroLEDs also dampened the mood. According to a spokeswoman, this will not initially affect Aixtron's annual targets. With a view to the following years, however, a first expert already sees headwinds. At AMS Osram, value adjustments in the millions are the result. The company's share price collapsed by more than 40 percent on the Swiss stock exchange.

"This project cancellation has significant financial implications for AMS Osram," wrote analyst Sandeep Deshpande from the bank JPMorgan in an initial reaction in view of the considerable investments that went into the development of this project. For one trader, this is also "terrible news for Aixtron as MicroLED is a key growth driver in investors' focus".

For Olivia Honychurch from Jefferies Research, however, the share price slump also offers opportunities. According to her assessment, Apple canceled the AMS project, but this apparently has no impact on Aixtron's outlook for this year.

According to Honychurch, the company is positioning itself cautiously, which she believes has led to an increase in targets over the course of the year. For her, the share remains a "strong recommendation" and every price weakness brings a buying opportunity.

According to Armin Kremser from DZ Bank, most of the disappointment resulting from the outlook that has now been published should have been priced into the share price due to the negative share price performance since the beginning of the year. He also confirmed his buy recommendation. The expert initially made no reference to the news from AMS./tih/mis/men