Biden administration reportedly revoking certain licenses for exports to Huawei
What are we learning here, Megan Scott? We’ve just learned that the Commerce Department has. Certain licenses for exports to Huawei. This is meant to impact the supply of chips available for Huawei cell phones and laptops. Commerce did not tell us any specific companies that would be impacted, but the Financial Times has reported that Intel and Qualcomm will be hit here, that they’ll be limited in their amount of sales they can send to Huawei. This comes, of course, as the Biden administration has been trying to limit the amount that China can build out its chip manufacturing, its semiconductor supply chain. And there was an indication that Qualcomm knew that this was coming. In their earnings, they had indicated that they didn’t expect to receive revenues from Huawei beyond this calendar year. So there was an indication there the companies knew this was coming. But what we know for now. Is that Commerce has revoked these licenses for exports to Huawei Scott. All right, Megan, appreciate it. Keep us up to date. Megan Casella.