AMD, TSMC, Broadcom And Other Chip Stocks Hit By Biden's Fresh AI Chip Export Restrictions: Details
Portfolio Pulse from Anusuya Lahiri
The Biden Administration's new AI chip export restrictions to the Middle East have caused a selloff in the semiconductor sector. ETFs like VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) are down nearly 3%. Key companies affected include Nvidia (NVDA), AMD, TSMC, Broadcom (AVGO), Qualcomm (QCOM), Micron (MU), Arm Holdings (ARM), and Super Micro Computer (SMCI). Despite the selloff, Mizuho analyst Vijay Rakesh reiterated Buy ratings on QCOM, MU, Western Digital (WDC), and Seagate Technology (STX), citing upcoming catalysts.
May 31, 2024 | 6:21 pm
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NEGATIVE IMPACT
Advanced Micro Devices (AMD) is affected by the Biden Administration's AI chip export restrictions to the Middle East, leading to a selloff in its stock.
AMD is a significant player in the AI chip market and is directly impacted by the new export restrictions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Arm Holdings (ARM) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East.
Arm Holdings is a significant player in the semiconductor market and is affected by the new export restrictions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Broadcom (AVGO) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East.
Broadcom is a significant player in the semiconductor market and is affected by the new export restrictions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Nvidia (NVDA) shares are trading lower by 1.90% due to the Biden Administration's AI chip export restrictions to the Middle East.
Nvidia is a key player in the AI chip market and is directly affected by the new export restrictions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Super Micro Computer (SMCI) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East.
Super Micro Computer is a significant player in the semiconductor market and is affected by the new export restrictions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
VanEck Semiconductor ETF (SMH) is down nearly 3% due to the Biden Administration's AI chip export restrictions to the Middle East.
The ETF represents the broader semiconductor sector, which is directly impacted by the new export restrictions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
iShares Semiconductor ETF (SOXX) is trading lower by close to 3% due to the Biden Administration's AI chip export restrictions to the Middle East.
The ETF represents the broader semiconductor sector, which is directly impacted by the new export restrictions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Taiwan Semiconductor Manufacturing Co (TSM) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East.
TSMC is a key supplier for Nvidia and other AI chip companies, making it vulnerable to the new export restrictions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Micron Technology (MU) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East. However, Mizuho analyst Vijay Rakesh reiterated a Buy rating, citing upcoming catalysts.
While Micron is affected by the new export restrictions, the reiterated Buy rating and upcoming catalysts provide a neutral outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Qualcomm (QCOM) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East. However, Mizuho analyst Vijay Rakesh reiterated a Buy rating, citing upcoming catalysts.
While Qualcomm is affected by the new export restrictions, the reiterated Buy rating and upcoming catalysts provide a neutral outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Seagate Technology (STX) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East. However, Mizuho analyst Vijay Rakesh reiterated a Buy rating, citing upcoming catalysts.
While Seagate Technology is affected by the new export restrictions, the reiterated Buy rating and upcoming catalysts provide a neutral outlook.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Western Digital (WDC) is trading lower due to the Biden Administration's AI chip export restrictions to the Middle East. However, Mizuho analyst Vijay Rakesh reiterated a Buy rating, citing upcoming catalysts.
While Western Digital is affected by the new export restrictions, the reiterated Buy rating and upcoming catalysts provide a neutral outlook.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70