Washington Set To Launch Probe Into Huawei's Recent Cutting-Edge Mobile Phone Technology
Portfolio Pulse from Piero Cingari
The US government is set to investigate Huawei's new mobile phone technology, which appears to use technology the US has been aiming to restrict from China. The new Mate 60 Pro features a 7-nanometer processor, an advancement over the 14-nanometer limit the US wishes to uphold for China. This has raised doubts over the effectiveness of US strategies to limit China’s tech sector. The VanEck Semiconductors ETF (NYSE:SMH) fell over 2% on Thursday, with Qualcomm Inc. (NASDAQ:QCOM) leading losses, down over 7%.
September 07, 2023 | 9:15 pm
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Qualcomm Inc. (NASDAQ:QCOM) led losses, down over 7% on Thursday due to concerns over Huawei's new technology.
The news about Huawei's new technology, which surpasses US-imposed limits, has raised concerns over the effectiveness of US strategies to limit China’s tech sector. This has negatively impacted the semiconductor sector, leading to a significant drop in QCOM's price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
The VanEck Semiconductors ETF (NYSE:SMH) fell over 2% on Thursday due to concerns over Huawei's new technology.
The news about Huawei's new technology, which surpasses US-imposed limits, has raised concerns over the effectiveness of US strategies to limit China’s tech sector. This has negatively impacted the semiconductor sector, leading to a drop in SMH's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75