Nvidia (NVDA) has the market’s full attention after surpassing Microsoft (MSFT) in market capitalization. The more relevant news today is the U.S. pushing ahead in restricting China’s ascent.
On Tuesday, a U.S. export policy chief, Alan Estevez, met with the Dutch government. The chief wants U.S. allies to restrict China’s ability to produce advanced semiconductors.
Despite the U.S. restricting China from advanced chips in 2022, it did not hurt AMD (AMD) and Nvidia (NVDA) sales. Instead, it accelerated sales by forcing Chinese technology firms to buy chips ahead of the restrictions.
Investors may bet on a “business as usual” scenario for semiconductor firms. ASML and Taiwan Semiconductor (ASML) have advanced fabrication plants for producing chips for AMD and Nvidia.
In the healthcare sector, Johnson & Johnson (JNJ) risks falling below its 52-week low. It faces a new proposed class action, filed in a New Jersey federal court. The lawsuit is on behalf of people who used its baby powder and other talc products. It seeks medical monitoring to catch cancer early.
J&J previously proposed to settle all talc claims for $6.48 billion.
In the de-SPAC segment, Trump Media & Technology (DJT) said that the SEC declared effective its filing for selling certain shares and warrants. This enables the firm to get around $250 million. Although the firm said it may pursue TV streaming, doubts are high. Its last quarterly revenue of below $1 million suggests that it needs more funds to build a media service from scratch.
Related Stories
