Several semiconductor and chip manufacturer names are trading lower Wednesday after China announced restrictions on the export of metals used in chip production.
What To Know:
On Monday, China announced the placement of export restrictions on products and materials containing gallium and germanium which are critical to the production of semiconductors. The export restrictions on gallium and germanium are seen as possible retaliation to U.S. export controls designed to curb China's technological advances.
Some of the stocks moving Wednesday include Qorvo, Inc. QRVO, QUALCOMM, Inc. QCOM, Skyworks Solutions, Inc. SWKS and NXP Semiconductors N.V. NXPI.
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QRVO, QCOM, SWKS, NXPI Price Action: According to Benzinga Pro, shares of Qorvo are trading 3.47% lower at $99.55. Shares of Skyworks Solutions are trading 2.39% lower at $109.03, and shares of QUALCOMM are trading lower by 1.78% at $117.95. Shares of NXP Semiconductors are also trading lower by 0.4% at $205.59 at the time of publication.
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