Memory, radio frequency suppliers rise as Trump allows companies to continue to sell to Huawei

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly:

1. TRADE NEWS SENDS WESTERN DIGITAL, OTHERS HIGHER: On Monday, Mizuho analyst Vijay Rakesh upgraded Western Digital (WDC) to Buy from Neutral following last weekend’s trade truce agreement between the U.S. and China and after President Donald Trump said he would allow U.S. companies to continue to sell to Huawei. The analyst noted that the Huawei ban has been a "major overhang" for handset radio frequency suppliers Qorvo (QRVO) and Skyworks (SWKS), and memory suppliers like Western Digital. The U.S.-China trade news also sent shares of II-VI (IIVI), Lumentum (LITE), Micron (MU), IPG Photonics (IPGP), Coherent (COHR), nLight (LASR) and Veeco (VECO) higher.

2. APPLE 'CLEARLY' G20 WINNER: Pointing out that heading into the G20 meeting the big question for Apple (AAPL) investors was around the future of new China tariffs possibly on the horizon, Wedbush analyst Daniel Ives argued that the positive step in the right direction announced between the two countries to not levy additional tariffs while negotiations continue takes away the biggest risk on the Apple story. Ives continues to believe that Apple does not look at diversifying production outside of China going forward if the current negotiations stay on track on the threat of the $325B tariffs staying pure noise and not becoming a reality. While demand issues continue to not be ideal for Apple in China, with roughly 60M-70M iPhones in China coming up for an upgrade opportunity over the next 12-18 months, this region "remains a linchpin of growth for the Apple story," he contended. The analyst reiterated an Outperform rating and $235 price target on the shares.  Read the full article here.

3. CURRENCY MANIPULATION: After tweeting, "S&P 500 hits new record high. Up 19% for the year. Congratulations," President Donald Trump added that, "China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games - as they have for many years!"