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FLEX - Flex News Story

$17.42 0.7  4.2%

Last Trade - 13/05/21

Sector
Technology
Size
Large Cap
Market Cap £5.94bn
Enterprise Value £6.76bn
Revenue £17.17bn
Position in Universe 1021st / 6856

BUZZ-Huawei suppliers, Apple jump after Trump talks of easing ban on China

Mon 1st July, 2019 12:33pm
** Shares of Huawei  HWT.UL  suppliers rise in premarket
trading, after U.S. and Chinese presidents Donald Trump and Xi
Jinping agreed to a trade truce, allowing Huawei to buy U.S.
products
    ** Huawei suppliers including NeoPhotonics  NPTN.N ,
Lumentum  LITE.O , Qualcomm  QCOM.O  and Micron Technologies
 MU.O  surged between 4% and 25% 
    ** Shares of Lumentum rose 8.2% at $57.80, NeoPhotonics
24.4% at $5.20, Finisar  FNSR.O  4.9% at $24, Skyworks 6.12% at
$82, Qualcomm 5.2% at $80, Micron Technologies 5.4% at $40.67,
Microsoft 1.6% at $136.10
    ** Apple Inc shares  AAPL.O  were up 2.4% at $202.8; Wedbush
analysts say the G20 Summit's winner is clearly Apple
    ** Analyst says the positive step in the right direction
announced between the two countries to not levy additional
tariffs, takes away the biggest risk on the Apple story for now
    ** Trump said on Saturday the ban was unfair to U.S.
suppliers as they could not sell parts and components to Huawei
without U.S. government approval  urn:newsml:reuters.com:*:nL4N2400C0
    ** Needham analysts say with many suppliers deriving a
mid-single-digit to over 10% of revenue from Huawei, Trump's
decision to allow the sale of components to Huawei is a
meaningful positive as it mitigates a major overhang on these
stocks
    ** Shares of European chipmakers including AMS  AMS.S  and
Infineon  IFXGn.DE  also rose  urn:newsml:reuters.com:*:nL8N2421GJ

 (Reporting by Vibhuti Sharma in Bengaluru)
 ((RM: vibhuti.sharma.thomsonreuters.com@reuters.net))
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