Chipmaker Nvidia fell 2.5% Friday after the US raised tariffs on $200 million of Chinese goods to 25% from 10%.
should a resolution not be reached. One of those areas that China could go after is semiconductors.
"China is an important market and it's an important gaming market," said Nvidia President and CEO Jensen Huang on the company's quarterly earnings call. The sector was hammered in the fourth quarter amid fears a trade war would continue without resolution. AMD and Nvidia both fell about 50% from their Q4 peaks before partially recovering in early 2019. As concerns began to ease, AMD rallied sharply, cutting its drop to 15% from its 2018 fourth-quarter peak.
"We think China trade talks will negatively impact our universe. Most notably, we think GPUs and Semi-cap are most at risk to the downside if tensions continue to rise." Nvdia reports first-quarter results next week, with analysts surveyed by Bloomberg expecting both revenue and earnings to fall from last year's numbers.
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