If you aren’t aware of the Biden administration’s actions regarding China’s semiconductor industry, it’s pretty simple: American companies have been banned from selling advanced semiconductors to China. The ban also covers the equipment needed to make and test semiconductors.
The Case Against Intel
Last week, semiconductor giant Intel (NASDAQ: INTC) reported earnings that were…um…bad. Intel shares closed at $30.03 on Thursday, January 26. The stock opened for trading Friday morning at $27.07, down 10% after a surprise earnings miss.