Shares of several semiconductor stocks are trading lower after the Biden administration said it plans to halt advanced AI chip shipments to China.
Portfolio Pulse from Benzinga Newsdesk
The Biden administration plans to halt advanced AI chip shipments to China, causing several semiconductor stocks to trade lower.
October 17, 2023 | 1:42 pm
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NEGATIVE IMPACT
AMD's stock is trading lower due to the halt in AI chip shipments to China.
As a major producer of AI chips, AMD is directly affected by the halt in shipments to China. This could lead to a decrease in revenue and negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AVGO's stock is trading lower due to the halt in AI chip shipments to China.
As a major producer of AI chips, AVGO is directly affected by the halt in shipments to China. This could lead to a decrease in revenue and negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
INTC's stock is trading lower due to the halt in AI chip shipments to China.
As a major producer of AI chips, INTC is directly affected by the halt in shipments to China. This could lead to a decrease in revenue and negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NVDA's stock is trading lower due to the halt in AI chip shipments to China.
As a major producer of AI chips, NVDA is directly affected by the halt in shipments to China. This could lead to a decrease in revenue and negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
STM's stock is trading lower due to the halt in AI chip shipments to China.
As a major producer of AI chips, STM is directly affected by the halt in shipments to China. This could lead to a decrease in revenue and negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100