61.97 +0.43 (0.70%)
After hours: 7:33PM EDT
|Bid||61.11 x 1800|
|Ask||61.76 x 800|
|Day's Range||61.47 - 67.95|
|52 Week Range||54.74 - 86.50|
|Beta (3Y Monthly)||0.93|
|PE Ratio (TTM)||58.61|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
As of Tuesday, an imminent deal seems unlikely, with both countries refusing to compromise, Cramer said.
Semiconductors are lagging the Nasdaq Composite today, but still solidly in the green. Yahoo Finance's Jared Blikre joins Myles Udland to break down the action in the chipmaker space, as President Trump partially walks back a tougher trade stance.
Understanding the Impact of Trump’s Huawei Ban on US StocksHuawei banLast week, Donald Trump blacklisted Chinese telecom giant Huawei Technologies amid rising US-China trade tensions, restricting US companies’ transfer or supply of any
While it's possible that trade tensions will lead chip stocks to sell off farther, a lot has already been priced in, and it's not a given that worst-case fears will be realized.
Huawei Ban Encourages Qorvo and Lumentum to Cut Earnings GuidanceQorvo and Lumentum cut their guidance after the Huawei ban The semiconductor industry—and smartphone chipmakers in particular—have started to feel the impact of the Huawei ban
was gaining Tuesday even after it lowered its fiscal 2020 first-quarter guidance due to the pressure the U.S. government has placed on the Chinese telecom company in recent weeks. Qorvo now expects to generate between $730 million to $750 million in the first quarter, down from its previous guidance between $780 million and $800 million. It expects diluted earnings per share of $1.15, down from its previous view of $1.30.
(Reuters) - Radio frequency chipmaker Qorvo on Tuesday joined mobile parts maker Lumentum Holdings Inc in halting shipments to Huawei Technologies, following export restrictions by the United States government. ...
Shares of Qorvo Inc. bounced 8.7% in morning trade Tuesday, following a 16.5% plunge over the past three sessions, although the chip maker cut its profit and sales outlook in the wake of U.S. actions against China-based Huawei Technologies Co. Ltd. Qorvo lowered its earnings-per-share guidance to $1.15 at the midpoint of its range from $1.30 at the midpoint, compared with the FactSet consensus of $1.29. the revenue outlook was lowered to a range of $730 million to $750 million from $780 million to $800 million, compared with the FactSet consensus of $785 million. For the second quarter, Qorvo said it now assumes no sales to Huawei, and projects revenue to be "roughly flat" with the first quarter, while the current FactSet consensus of $826 million implies growth of 10% to 13% above the new first-quarter guidance. Qorvo's stock has rallied 9.7% year to date, while the PHLX Semiconductor Index has climbed 19.4% and the S&P 500 has gained 14.0%.
Post U.S. blacklist, Google denied Huawei access to certain updates to the Android system. Here, we study the impact of the ban on some semiconductor ETFs with exposure to Huawei's key U.S. suppliers.
These Tech Stocks Lost Big on May 17(Continued from Prior Part)QRVO fell 6.1%Shares of semiconductor company Qorvo (QRVO) fell 6.1% on May 17 to close trading at $63.93. The stock is currently trading 16.8% above its 52-week low of $54.74 and 26%
While the sector has been one of the biggest casualties of the escalation of trade tensions between the U.S. and China, news on Monday that some Huawei Technologies Co. suppliers are said to have halted shipments to the Chinese company sent chipmakers plummeting. The Philadelphia Semiconductor index fell as much as 3.3% in New York, its biggest drop in a week, while in Europe, the Stoxx 600 Technology Index slid 3%. The company said in a statement that it cannot predict when shipments will resume.
Taiwan Semiconductor Manufacturing Co Ltd said it will maintain supplies for the time being even though it was assessing the impact of Washington's decision, the report said. Innolux Corp, which supplies screen to Huawei, said it will have an impact, but it was hard to determine its scope and that its shipping schedule for Huawei remained unchanged, according to the report.
The Philadelphia Semiconductor Index was down 1% at 12:45 p.m. in New York after paring a drop of as much as 2.3%. The rebound was squelched after the White House barred companies deemed a national security threat from selling to the U.S. and threatened to blacklist Huawei from buying essential components. Cowen analyst Chris Krueger, in a research note, called the threat a “massive escalation” in the trade tensions between the two countries.
Shares of several communication chipmakers fell sharply Thursday following the news that the U.S. Commerce Department was adding Huawei Technologies and dozens of its affiliates to an "Entity List" that would greatly restrict its ability to buy components from U.S. companies. , another communications chipmaker that got about 14% of its revenues from Huawei in 2018, according to Stifel, was trading down more than 13%. appeared to get a boost from the news, however, with Nokia trading up more than 4% on the New York Stock Exchange and Ericsson up around 2% on Nasdaq.
Chip stocks have been struggling of late as trade tensions between China and the U.S. increase. The Trump administration's latest move on that front could add pressure to the chipmakers.