Intel Corporation (NASDAQ:INTC) shares are trading down roughly 1% Friday afternoon at $37.75 after the stock gained Thursday despite broader weakness in semi stocks. Intel on Wednesday also presented at the Citi Global Technology Conference. Otherwise, China’s iPhone crackdown and Huawei’s 5G Kirin 9000s chip-powered smartphone have added pressure to several sector stocks.
Intel is a significant player in the semiconductor industry, and it relies on a complex global supply chain for its manufacturing and sales. If China bans iPhones, which are a major product of Apple, it could disrupt the supply chain for various semiconductor components, including those produced by Intel.
This disruption might lead to fluctuations in Intel’s production, orders and revenue.
What You Need To Know
China’s move against the U.S. to broaden its ban on iPhones in sensitive departments encompassing government-backed agencies and state companies signaled increasing difficulties for Apple Inc in its largest foreign market and global production hub. The ban comes on the heels of Apple’s latest iPhone model launch.
This move comes amid Beijing’s efforts to reduce reliance on American technology, further fueled by the U.S. sanctions on China over semiconductor technology and efforts to reduce supply chain dependence on China…Read More
According to data from Benzinga Pro, Intel Corporation has a 52-week high of $40.42 and a 52-week low of $24.59.
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