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Broadcom's $2 billion US-China trade war warning rattles global chip sector

The forecast, included in the company's second-quarter results late on Thu, was the hardest evidence yet of the damage President Donald Trump's trade war with Beijing may do to the global industry

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Arjun  |  Semiconductor  |  Apple Inc

Reuters  |  London/Bengaluru 

Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that US-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company's sales this year. The forecast, included in the company's second-quarter results late on Thursday, was the hardest evidence yet of the damage President Donald Trump's trade war with Beijing may do to the global industry. Shares in Broadcom fell as much as 8.6%, wiping more than $9 billion off the market value of the company, previously based in Asia but ...

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First Published: Sun, June 16 2019. 01:13 IST
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