What's Going On With NXP Semiconductors and Taiwain Semiconductor Stocks Thursday?
Portfolio Pulse from Erica Kollmann
Semiconductor manufacturers NXP Semiconductors (NASDAQ:NXPI) and Taiwan Semiconductor Manufacturing Company (NYSE:TSM) are experiencing a decline in their stock prices following China's announcement of export restrictions on gallium and germanium, metals critical to chip production. This move is seen as a possible retaliation to U.S. export controls. The broader tech sector is also trading lower due to concerns over potential Fed rate hikes.
July 06, 2023 | 3:27 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
NXP Semiconductors' stock price is down 0.41% at $202.83 due to China's export restrictions on key chip-making metals and concerns over potential Fed rate hikes.
China's export restrictions on gallium and germanium, key materials for chip production, directly impact NXP Semiconductors' operations. Additionally, potential Fed rate hikes could negatively affect growth stocks like NXPI.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Taiwan Semiconductor's stock price is down 1.81% at $99.16 due to China's export restrictions on key chip-making metals and concerns over potential Fed rate hikes.
China's export restrictions on gallium and germanium, key materials for chip production, directly impact Taiwan Semiconductor's operations. Additionally, potential Fed rate hikes could negatively affect growth stocks like TSM.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100