Wolfspeed, Qualcomm down on China's chip material export curb plans

Navitas Semiconductor

05/07/2023 10:20

** Shares of Wolfspeed Inc  WOLF.N  and Qualcomm  QCOM.O 
down between 0.5% and 1.8% in early premarket trading
    ** Cos caught out by China's decision to restrict exports of
two metals - gallium, germanium - used in chips and EVs were
racing to secure supplies on worries more curbs could follow
    ** "China export controls may impact directly U.S.- and
Euro-based manufacturers of gallium nitride (GaN) materials and
buyers of these materials for the processing of compound semis"
- Wells Fargo
    ** Wells Fargo says WOLF may experience constraints for
GaNon-SiC (RF GaN) production, while radio frequency front end
(RFFE) players like Qorvo Inc  QRVO.O , Skyworks Solutions Inc
 SWKS.O  and QCOM may also be impacted
    ** Adds, London-listed IQE  IQE.L  is biggest supplier of
materials for power GaN, a product used by Power Integrations,
Inc  POWI.O  and Navitas Semiconductor Corporation  NVTS.O 
    ** Shares of QRVO, SWKS down 0.2% and 0.5% premarket,
respectively; IQE down ~0.2% in London

 (Reporting by Aniruddha Ghosh in Bengaluru)
 ((Aniruddha.Ghosh@thomsonreuters.com; 91 83 83 81 2416;))