According to the bipartisan leaders of a House of Representatives panel, the Biden administration needs to take stronger action to halt China’s growing dominance in making older-generation microchips, which are vital in several industries in the United States, Asa Fitch of The Wall Street Journal reports. The panel calls for new efforts, including potential tariffs, to counteract an overreliance on China for less-advanced chips, according to a letter read by the Journal. Publicly traded companies in the space include Advanced Micro Devices (AMD), Intel (INTC), Qualcomm (QCOM), NVIDIA (NVDA), Marvel (MRVL), Texas Instruments (TXN), Micron (MU), Microchip (MCHP).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AMD:
- AMD Stock: There’s a Big Opportunity Ahead, Says Gus Richard
- AMD price target raised to $154 from $98 at Truist
- AMD price target raised to $162 from $130 at Mizuho
- The semiconductor stocks to own in 2024, according to KeyBanc
- AMD introduces Versal AI Edge XA adaptive SoC, Ryzen Embedded V2000A processor