Semiconductor Companies Recuperate Yesterday’s Losses
Arslan Butt • 1 min read
The US government’s decision to grant Huawei a temporary reprieve for the ban has helped shares of European semiconductor companies recover from yesterday’s fall. US Commerce Department has temporarily eased trade restrictions on Huawei in order to prevent disruptions in services for customers.
Shares of Infineon, AMS and STMicro edged higher early in the European session as a result, recuperating yesterday’s losses. On Monday, this sector was worst affected in both the European as well as the US markets over fears that US’s ban on Huawei could have a spillover effect on the company’s suppliers.
The Commerce Department has permitted Huawei access to American goods to maintain existing networks and offer customers software updates till August 2019. This temporary deadline will be reviewed later, if the need arises.