Intel's shares dropped 2.22% due to US revoking license for chip sales to Huawei, affecting Q2 revenue.
Intel's shares dropped 2.22% on Wednesday due to the US revoking Intel's license to sell chips to Huawei, a Chinese telecommunications giant. The chip giant now expects its Q2 revenue to fall into the original range of $12.5bn to $13.5bn, but below the midpoint. This comes after the US Department of Commerce revoked certain licenses for exports of consumer-related items to a customer in China, effective immediately.
May 08, 2024
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