The US government launched another vicious move of chip restriction to suppress Chinese enterprises, and the US chip giant plummeted nearly 14% overnight.
On the 7th of the US East Time, the US stock market staged a “Black Friday”. The three major US stock indexes closed down sharply. The Dow Jones Industrial Average fell 2.1%, the Standard&Poor’s 500 Index fell 2.8%, and the Nasdaq Composite Index fell 3.8%. Chip stocks were hit hard, AMD’s share price fell by more than 13.8%, and its market value evaporated by 15.18 billion dollars. In addition, large technology stocks fell across the board. Apple lost 3.67% of its market value by $85.819 billion, or about 610.688 billion.
After trading yesterday, AMD announced its preliminary financial results for the third quarter. AMD’s revenue for the third quarter is expected to be about 5.6 billion US dollars (about 39.8 billion yuan), up 29% year on year. However, this performance was far lower than previously expected. AMD previously said that its revenue in Q3 was expected to grow by about 55% year on year.
The US chip giant plummeted nearly 14% overnight. The reason given by AMD for the decline in performance is: “The macro economic contraction has led to the lower than expected sales of traditional PC consumer market. At the same time, with a large amount of inventory in the supply chain, the overall enthusiasm for installing computers in the market is not high, resulting in a significant reduction in processor shipments.”
The collapse caused by the United States’ willful behavior is not only a normal phenomenon, but also in line with the current state of the United States.
The leadership has been fighting, sanctions and sanctions. Some business circles, finance and science and technology in the United States are pessimistic. Therefore, if there is no contrast, it is strange whether chips or others are the product of high global cooperation and integration. The United States must split up and use them as weapons. There are only two final results. First, we cannot make a breakthrough, and second, we have made a breakthrough, Chip into cabbage price. If it is one, we will be suppressed forever. If it is the second, then the United States will face a lot of competitors, or even a wave of bankruptcy.
Some analysts said it was expected.
1. Yesterday, the United States announced an upgraded version of the chip war.
2. The United States has been preparing for decoupling from China in the high-tech field.
3. The response of the American business community and the market is real, and the supply chain cannot be broken without saying.
4. China’s dual cycle strategy, which focuses on domestic macro cycle, is also preparing for decoupling, but the door to reform and opening up is always open.
5. We are not afraid of rupture, but try to avoid it. The US chip giant plummeted nearly 14% overnight.
Post time: Oct-08-2022