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The protectionism of President Trump does not seem to want to stop the imposition of new tariffs for the aluminum and steel sectors. The rumors, reported by some major financial agencies such as Bloomberg, indicate that very soon it could also involve the corporate assets of sectors considered strategic for the North American country by the new administration of Washington. In this specific case the sector would be that of semiconductors, very important because of the high added value and strategic from the technological one.
Trump, in fact, would be able to approve from the treasury a law that prevents the climb to American companies operating in the sector by groups or other companies with a Chinese ownership of more than 25%. Moreover, it is not excluded that this is also extended to other nations, such as Saudi Arabia or Russia. In fact there would be a protective cage around American technological "jewels", such as AMD, Nvidia, Intel, Qualcomm etc. Simultaneously with the news, the entire sector fell strongly. AMD, which also lost 7% in a single session, was one of the worst hit, due to the strong "foreign" component in its corporate control structure; in fact Mubadala, sovereign fund of the government of Abu Dhabi, alone holds 13% of the Sunnyvale company.
Another company heavily hit was Intel, which during the last week had already suffered the trauma of the resignation of CEO Brian Krzanich. Although the company statement indicates that the causes of this expulsion are due to a relationship held by Krzanich with an Intel employee, many analysts and insiders believe that the episode is actually just a pretext.
The real reason could be due to the company's difficulties in adopting the new 10nm production process and, in general, the lack of competitiveness of its latest products compared to the competition. Just think that both TSMC and Samsung are about to launch the first 7nm process-based products while the Santa Clara house still has problems with 10nm. In the evening, however, both Secretary of State Mnuchin and the President's assistant on these issues Navarro have thrown some water on the possibility of introducing restrictions and in fact the behavior of semiconductors is recovering part of the losses suffered.
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Source: IQOption blog 2018-06-26 19:47:05
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