INTC - What's Going On With Alibaba And Its Chinese Peer Stocks On Friday? | Benzinga
Alibaba Group Holding Limited (NYSE:BABA) and peers are trading lower Friday amid reports of China retaliating against U.S. semiconductor sanctions via the East Asian country’s latest move.
In 2024, Chinese officials directed major telecom carriers to phase out foreign processors, notably impacting American chip giants Intel Corp (NASDAQ:INTC) and Advanced Micro Devices, Inc (NASDAQ:AMD).
China set the deadline for 2027. Intel, with China as its largest market, and AMD saw a revenue reduction from China following U.S. restrictions.
The Wall Street Journal reports that China commanded its telecom operators to inspect their networks for ...