News,

Qualcomm, Micron, and other U.S. companies are forbidden to trade with Huawei

Over 30 U.S. are forbidden to sell or transfer any technology or components to Huawei.
On May 16, Donald Trump signed an executive order, claiming that Huawei poses a spying risk to the country. After that, the Chinese technology giant was added to the U.S. Bureau of Industry and Security’s so-called “Entity List”.
Later, the Commerce Department specified that Huawei would be forbidden to buy from American companies, some of which supply computer chips for its products.
Many of those firms are publicly listed and took a battering by the close of U.S. trade on Thursday. $QCOM was down 4%, $MU was nearly 3% lower, and semiconductor firms $QRVO and $SWKS were down 7% and 6%, respectively.

0no comment

writer

At SprinkleBit, founded in 2011, we believe that if you have a dollar, then you have what it takes to be an investor. Sometimes you just need a little extra help to build your confidence. With our virtual simulator and our 24 free SprinkleBit University chapters, you will be able to learn the ins and outs of the market risk-free. Once you're ready to dive into the real thing, the community will be right there with you to help you on your journey. Dive in and start taking control of your financial future. You won't regret it.

Leave a Reply