U.S. chip sanctions against China go back as far as October 2022.
It was originally believed that Chinese technology was 10 - 15 years behind the U.S. But the current sanctions suggest China may be closer than experts thought. The ban is an effort to preserve U.S. dominance in the sector.
China's sanction against MU is the country's first retaliation.
As a result, the chip industry is experiencing a considerable amount of pressure. The sanctions take a huge chunk out of demand.
And the economic skirmish comes after a gruesome year for the tech industry in 2022.
Here's a daily chart of MU for reference …
We're keeping an eye on the sector in case things start to heat up.
Remember, sometimes bearish catalysts can create decent bullish opportunities. Some things in the market seem counterintuitive to most people.
The key is to focus on volatility.
Ford Come Back
Ford Automotive Company (NYSE: F) is an EV straggler.
Tesla Inc. (NASDAQ: TSLA) and General Motors Inc. (NYSE: GM) are leading the charge for U.S. companies.
But Ford's not out of the race, and the company just outlined its path to profits for investors.
Post a Comment
Post a Comment