TXN - Micron Applied Materials among semi gainers as Piper sees Biden tailwind for US-China relations

"The U.S.’s relationship with China can’t get worse," says Piper Sandler analyst Harsh Kumar. A Biden administration would work to "repair the broken relationship," a tailwind for the semiconductor industry "given the growing end-market demand for chips, along with the significant supply chain exposure."Kumar thinks supplying to Huawei "could be back in play, as the sanctions could be lifted/altered," while semis with strong consumer exposure would benefit from another stimulus check.Background: Semis with strong Huawei exposure include Micron ([[MU]] +3.5%), Skyworks ([[SWKS]] +1.1%), and Qualcomm ([[QCOM]] +0.8%).Companies with high exposure to consumer spending include NXP Semiconductors ([[NXPI]] +1.4%) and Texas Instruments ([[TXN]] +2.5%).Semi equipment stocks Lam Research ([[LRCX]] +4.2%), KLA ([[KLAC]] +3.3%), and Applied Materials ([[AMAT]] +4.1%) would benefit from easing sanctions on Huawei and SMIC and also have strong China exposure.Previously: Applied Materials, Lam Research, and KLA surge on optimism around U.S.-China relations (Nov. 05 2020)

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Micron, Applied Materials among semi gainers as Piper sees Biden tailwind for US-China relations