77.00 +0.38 (0.50%)
After hours: 5:02PM EDT
|Bid||76.73 x 900|
|Ask||77.05 x 800|
|Day's Range||76.07 - 78.33|
|52 Week Range||49.10 - 90.34|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||40.45|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||2.48 (2.88%)|
|1y Target Est||96.59|
Stock fell Monday as the impact of the White House’s decision to blacklist Huawei rippled through markets Monday.
Huawei has more to worry about beyond Google's decision to suspend Android support . Bloomberg sources said that American chipmakers Intel, Qualcomm, Broadcom and Xilinx had told staff they wouldn't supply Huawei with parts "till further notice," leaving the Chinese tech giant without potentially vital components. Nikkei tipsters also claimed that Germany's Infineon had cut off "certain shipments" to Huawei out of caution, although a spokesperson since said that most of its products wouldn't be subject to the US blacklisting that had prompted companies to back away.
Several key suppliers are reportedly cutting off Huawei after the Trumpadministration added the Chinese telecom equipment and smartphone giant to atrade blacklist last week
Global equity markets fell on Monday as a U.S. crackdown on China's Huawei Technologies led chipmaker stocks in Europe and on Wall Street to slide on fears of a widening trade war, while the dollar was steady before fresh insight on the Federal Reserve's interest rates policies this week. China accused the United States of harbouring "extravagant expectations" for a trade deal, underlining the gulf between the two sides as the U.S. action last week against Huawei began to hit the global tech sector. Alphabet Inc's Google suspended some business with Huawei, Reuters reported, and Lumentum Holdings Inc, a major supplier of Apple Inc's face ID technology, said it had discontinued all shipments to Huawei.
U.S. stocks slid on Monday as the White House's restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the United States and China. Since the White House added Huawei to a trade blacklist last week, several companies have suspended business with the world's largest telecom equipment maker.
Technology companies led a broad slide in stocks Monday afternoon on Wall Street, extending the market's losses into another week.
Investing.com - U.S. stocks closed lower on Monday, led by a slump in chip stocks on reports U.S. companies are starting to cut off Huawei supplies following President Donald Trump's ban on the Chinese tech company.
Alphabet Inc.’s Google and another U.S. chip maker have begun to comply with U.S. restrictions on Huawei Technologies Inc., with other companies also reportedly falling in line.
Now, we have to factor in a potential embargo against Huawei into the sales of even the most popular semiconductor names. , while not on this list, is struggling post-earnings after 5G uptake and data center sales disappointed. , a second favorite name, has yellow flags abound, because of Huawei exposure.
Apple and Intel dragged the Dow Jones, chips weighed broadly on the stock market Monday, as U.S. action against China's Huawei took hold.
U.S. chipmakers Intel, Xilinx, Broadcom and Qualcomm have also reportedly told their employees not to sell chips or components to Huawei.
A sell-off in chip stocks intensified following a report that chipmakers are cutting ties with Huawei after the Trump administration's ban.
Jim Cramer is back from San Francisco and ready to dive into the top stories driving the markets . President Donald Trump said Sunday in an interview with Fox News that tariffs were "totally killing" China and causing U.S. companies to move production facilities to other countries in the region, such as Vietnam. It's been reported that Qualcomm will no longer supply with the components that it needs to continue building its worldwide 5G networks.
Craig Moffett, founder and senior analyst at MoffettNathanson, joins "Squawk Box" to break down where we are in the battle for 5G continues and why it matters.