Trump's blacklisting of Huawei is hammering some US manufacturers — Skyworks is the latest [CNBC]
NeoPhotonics Corporation (NPTN)
Last neophotonics corporation earnings: 4/30 04:05 pm
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Source: CNBC
Trump's blacklisting of Huawei is hammering some US manufacturers — Skyworks is the latest "Skyworks ceased all shipments to Huawei and its affiliates as of the date Huawei was added to the Entity List and cannot currently predict if and when shipments will resume," the company said on Tuesday in a statement, adding that 12% of revenue came from Huawei. Other companies are similarly feeling the pain. Two weeks ago Qorvo Lumentum Holdings reduced its forecast Neophotonics announced The companies' stock prices are down between 12% and 24% since Trump's executive order. "We are probably the largest public U.S. company with a concentrated position with Huawei," Neophotonics CEO Tim Jenks said at the Cowen Technology, and Telecom Conference in New York on Wednesday. According to its annual report Skyworks said that for the fiscal third quarter, which ends later this month, the company reduced its revenue forecast by $60 million to between $755 million and $775 million. It lowered its earn
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