![]() ![]() In Asia, shares of several Apple suppliers fell on Monday, with TSMC and Tokyo Electron falling 0.7% and 4% respectively. ![]() stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. ![]() The drop in the technology sector weighed on the three main U.S. Other suppliers of the iPhone maker including Broadcom, Skyworks Solutions and Texas Instruments were also lower, falling between 1.8% and 7.4%. firms including planemaker Boeing and memory chipmaker Micron. Senator Mark Warner, a Democrat and chair of the Senate Intelligence Committee, also shared similar concerns and said, "as the Chinese economy stalls, we can potentially anticipate more aggressive moves against foreign businesses".Ĭhina has curbed shipments from prominent U.S. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. Representative Mike Gallagher, the chairman of the House panel on China. The wider ban is not surprising and shows how China is trying to limit a Western company's market access to the nation, said U.S. parties have been vocal in their concerns about national security risks allegedly created by China's products, pressuring the Biden administration to get even more aggressive with Beijing. companies with the largest China presence, tumbled 7.2% to lead losses among major tech firms. "If Huawei has the capability to supply and scale its home-grown Kirin 9000S (chips), we see the Mate series phone as an opportunity for Huawei to increase its shipments and regain its market share," analysts at BofA Global Research said.Īpple supplier Qualcomm, one of the U.S. sanctions cut Huawei's access to chipmaking tools essential for producing the most advanced handset models, hammering the company's business and allowing Apple to take some market share from the national favorite in China. We’re going to want to look at this carefully, consult with our partners, get a clearer sense of what we’re looking at, and then we’ll make decisions accordingly." "I can’t give you an exact number of days but this is not going to be months down the road. "There’s a number of different methods to try to sort of come to an understanding of what exactly it is that we’re dealing with here," Sullivan said. government is trying to get more information about the Huawei chip. White House National Security Adviser Jake Sullivan told reporters on Air Force One the U.S. "We are continually working to assess and, when appropriate, update our controls based on the dynamic threat environment and we will not hesitate to take appropriate action to protect U.S. "The restrictions in place since 2019 have knocked Huawei down and forced it to reinvent itself - at a substantial cost to the (Chinese) government," the department added. Commerce Department said late Thursday it's working to obtain more information "on the character and composition" of the chip that may violate trade restrictions. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech.Ĭhina's Huawei last week launched its new Mate 60 Pro smartphone, which is powered by an advanced chip made by Chinese contract chipmaker SMIC and marks an apparent breakthrough for the duo hit by U.S. Several Wall Street analysts said the curbs show that even a company with a good relationship with the Chinese government and a large presence in the world's second-biggest economy was not immune to rising tensions between the two nations. lawmakers on Thursday and fanned fears that American tech companies heavily exposed to China could take a hit from rising tensions between the countries.Īpple closed down 2.9% on Thursday and suffered its worst two-day percentage decline since November - after news that Beijing has told employees at some central government agencies in recent weeks to stop using their Apple phones at work. Beijing's widening curbs on iPhone use by government staff raised concerns among U.S. ![]()
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