The Philadelphia Semiconductor Index is down 1.6% in early trading after the White House bans U.S. firms from using telecom gear from Huawei citing national security concerns.
The move means companies like Qualcomm (NASDAQ:QCOM) -3.5% might have to apply for U.S. export licenses to continue supplying to Huawei.
Updated to add some Huawei exposure data from Mizuho. Note that Huawei is broadly a major Micron customer: Skyworks, 10%+ (customer); Qualcomm, 10% (customer); Qorvo, 10% to 15%+ (customer); Broadcom (AVGO -2%), less than 5% (customer); Xilinx, about 10% (exposure); Intel (INTC +0.3%), about 2% (exposure).
Now read: Micron: Time To Be Bullish »
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