Citi maintains Buy ratings on Dell Technologies (DELL) and HP Inc. (HPQ) after the Financial Times reported China has implemented new guidelines that the government will phase out the use of U.S. microprocessors, notably from Intel (INTC) and AMD (AMD). China has been backing government and state-owned enterprises to replace foreign branded PCs with local PCs since 2022, the analyst tells investors in a research note. Given Dell’s and HP’s China PC revenue contribution is 5%-7% in total including government and enterprises, the risk is “fairly limited,” Citi says.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DELL:
- Dell Technologies CEO sells $323M in common stock as part of option exercise
- Nvidia slips as Wall Street digests Blackwell architecture unveiling
- Dell (NYSE:DELL) Partners with Nvidia to Expedite Enterprise AI Adoption
- Dell Technologies to strengthen Nvidia collaboration
- Profiting From AI: Current and Upcoming Champions