0828 ET - Wedbush says the Trump administration's move to restrict next generation AI chips to China is a "strategic blow" for Nvidia and that the company "now has massive blockades going after the China market in the middle of this raging US/China tariff battle." The analysts say in a note that "the Street will take this news with clear nervousness worried these are the first shots fired in the tech battle between the US and China and Beijing/Xi are not just going to take this news and walk away." Nvidia slides 6.4% to $104.94 in premarket trading. Chip stocks in general are all lower this morning with Broadcom, Qualcomm, Micron, Marvell, AMD all weaker. ASML Holding is also lower after 2Q sales guidance came up short.(denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
April 16, 2025 08:28 ET (12:28 GMT)
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