Week In Review: How Trump's Policies Moved Tech Stocks

Catch up on the 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.

1. HUAWEI, ZTE: The Justice Department is investigating whether Huawei violated U.S. sanctions related to Iran, according to The Wall Street Journal, citing people familiar with the matter. It is not clear how far the DOJ probe has advanced, the report added. Last week, the U.S. Department of Commerce banned U.S. companies from selling components to Chinese telecom equipment maker ZTE Corp. (ZTCOY) for seven years for violating the terms of a sanctions violation case, sending shares of makers of optical components, including Oclaro (OCLR), Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (FNSR), into negative territory. ZTE previously pleaded guilty of illegally shipping U.S. goods and technology to Iran.

2. APPLE: President Donald Trump met on Wednesday with Tim Cook, CEO of Apple (AAPL). Prior to the closed door meeting, Trump tweeted that the two would be talking "about many things, including how the U.S. has been treated unfairly for many years, by many countries, on trade." Afterward, National Economic Council Director Larry Kudlow stated during an interview on CNBC that Apple's Cook was "helpful" ahead of trade negotiations with China.

3. AI PACTS BETWEEN U.S., CHINA: The U.S. may start looking into informal partnerships between American and Chinese companies in the field of artificial intelligence, Reuters reported earlier this week. Major American technology companies, including Advanced Micro Devices (AMD), Qualcomm (QCOM), Nvidia (NVDA) and IBM (IBM), are among U.S. technology firms that have collaboration activities in China, added the report. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.

Disclaimer: 

TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at TheFly.com.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.