Semiconductor shares jump after EU introduces single charging port
Reuters
Published Oct 04, 2022 07:01AM ET
LONDON (Reuters) - Shares in European semiconductor manufacturers rose on Tuesday after the European Parliament approved rules to introduce a single charging port for mobile phones, tablets and cameras to be in use across the bloc by 2024.
Shares in ASM International (OTC:ASMIY), Infineon (OTC:IFNNY), STMicroelectronics and BESI rose between 4.7% and 7.3% after the announcement.
The vote confirms an earlier agreement among EU institutions and will make USB-C connectors used by Android-based devices the EU standard, forcing Apple (NASDAQ:AAPL) to change its charging port for iPhones and other devices.
STMicro and Infineon are two of Apple's suppliers.
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Written By: Reuters
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