Tesla is on track to snap 6-day losing streak even as analysts' concerns mount (TSLA) - Business Insider

Reuters/Bobby Yip; Business Insider/Dave Smith

• Tesla shares turned higher Thursday after selling off in early trade.
• Shares junped 2%, though were still trading near the lowest level in 2 1/2 years.
• The stock is coming off a six-day losing streak fueled by analysts and investors' concerns about underlying demand, a worry that's plagued the stock for months.
• Watch Tesla trade live.

---

Tesla's recent sell-off abated Thursday as shares turned higher after a six-day bloodbath. Shares hit a session low of $186.23, the lowest level since December 7, 2016, before jumping 2%. 

The stock's losses over the last week come as a slew of major Wall Street firms have lowered their earnings expectations, price targets, and so-called "bear case" targets. 

Analysts' urgent commentary in recent sessions, paired with its former largest institutional shareholder dumping most of its stake, reflects a particularly troubling time for the electric-car maker that's long divided the investment community.

Read more: The investment giant that was once Tesla's biggest Wall Street backer cut its stake in half last year. Now it's dumped most of what was left.

Even Baird analyst Ben Kallo, who has long been one of the biggest Tesla bulls on Wall Street, lowered his earnings expectations for the automaker earlier this week and cut his price target for the second time in as many months. He still maintained his "outperform" rating.

"Demand concerns, credibility questions, and messaging/communication (including a recent email announcing 'hard core' cost cuts) have weighed on TSLA shares in recent weeks, and we think it could take several weeks/ months for the narrative to shift," he told clients Tuesday, adding the company's shareholder meeting in June could prove to be a catalyst for shares.

In the last week alone, analysts at Citi, Bank of America Merrill Lynch, Wedbush, and Morgan Stanley have all released scathing commentary about the automaker.

Morgan Stanley's longtime analyst Adam Jonas, who has been neutral on the stock for two years, reduced his bear case price target to a mere $10 from $97, citing concerns over waning consumer demand in China. Jonas has cut his price target four times this year, a far cry from his once-bullish posture.

Wedbush analyst Dan Ives, for his part, cut his price target

Tesla shares have fallen 39% this year.

Now read more Tesla coverage from Markets Insider and Business Insider:

THE MODEL 3 THAT NEVER WAS: Leaked supplier documents show how Tesla's cheapest car is different than originally planned

Tesla closes at a 2 1/2-year low after analyst who cut his price target for the 4th time this year warns it's facing a 'code red situation'

Warnings about Tesla are growing louder as Morgan Stanley slashes its worst-case scenario to $10 a share

Markets Insider

Let's block ads! (Why?)

https://markets.businessinsider.com/news/stocks/tesla-stock-price-25-year-low-7th-day-losses-2019-5-1028225916

2019-05-23 14:19:29Z
52780301238502

Dow tumbles 300 points as investors brace for a protracted U.S.-China trade standoff - MarketWatch

Stocks fell sharply Thursday morning, amid investor concern that trade tensions between the U.S. and China could get worse before they improve.

How are the major benchmarks trading?

The Dow Jones Industrial Average DJIA, -1.46% lost 301 points, or 1.2%, at 25,472, while the S&P 500 index SPX, -1.31% fell 31 points, or 1.1%, to 2,825. The Nasdaq Composite Index COMP, -1.53% meanwhile, retreated 97 points, or 1.3%, to 7,652.

On Wednesday, the Dow Jones Industrial Average lost 100.72 points, or 0.4%, to 25,776.61, and the S&P 500 index fell 8.09 points, or 0.3%, to 2,856.27. The Nasdaq Composite Index slipped 34.88 points, or 0.5%, to 7,750.84.

What’s driving the market?

U.S. investors are beginning to adjust to the idea of a protracted standoff between the U.S. and China, as increased trade tensions have continued to weigh on stocks in general and the technology sector in particular.

Read: Trade standoff between U.S., China may be settling in for the long run

Weakness in global markets spread to the U.S. Thursday morning as investors digested the implications of new U.S. export restrictions placed on Chinese telecom firm Huawei Technologies Co., with The Wall Street Journal reporting that U.K.-chip design company Arm Holdings was halting business with Huawei, sparking volatility overnight.

Trade talks can only continue when the U.S. adjusts its “wrong actions,” Gao Feng, a spokesperson for China’s Ministry of Commerce, reportedly said Thursday in a briefing, according to translated remarks. He added that the U.S. crackdown on China companies is threatening the “global industrial and supply chain.”

Meanwhile, the South China Morning Post reported that tensions are forcing China to rethink its entire economic relationship with the U.S. That’s as Huawei, meanwhile, is reportedly exploring the development of its own operating system if it can’t access that of Alphabet’s GOOGL, -0.87% Google or Microsoft Corp. MSFT, -1.45%

Economic data from Europe may also be contributing to fears over global growth, after IHS Markit’s flash composite purchasing manager’s index showed the eurozone manufacturing sector falling further into contraction, with factory managers cutting staff levels for the first time since August of 2014.

Stocks on Wednesday failed to get a lift from the minutes of the Federal Open Market Committee’s latest meeting, which revealed interest rates are on course to remain steady “for some time.”

What are analysts saying?

“The prospect of a speedy conclusion to the current tensions between the U.S. and China continues to recede, and as such the caution of the last few days, runs the risk of turning into a full-blown retreat from those sectors that are likely to be hit the hardest, from further escalations,” said Michael Hewson, chief market analyst at CMC Markets, in a note to clients.

What’s on the economic calendar?

The number of Americans applying for jobless benefits fell to 211,000 in the week ended May 18, from 212,000 the week prior. Economists polled by MarketWatch expected a 217,000 reading.

IHS Markit will release its U.S. manufacturing and services purchasing managers indexes for May due at 9:45 a.m. Eastern Time, while data on new home sales for April are due at 10 a.m.

Which stocks are in focus?

L Brands Inc. LB, +14.33% reported better-than-expected first-quarter earnings Wednesday evening, while the parent of Victoria’s Secret raise its guidance for the year. The stock rose 6% early Thursday, though it’s down more than 10% in 2019.

Shares of Best Buy Co. BBY, -4.12% fell 3.9% Thursday, after the big-box retailer reported first-quarter earnings that beat Wall Street forecasts, but issued a subdued outlook for the full-year 2019.

NetApp Inc. reported fourth-fiscal-quarter earnings Wednesday after the close, with earnings falling short of expectations alongside declining revenue. The stock is down 9.6% Thursday morning.

Shares of Medtronic PLC MDT, +1.89% rose 2.8% in premarket action, after the medical-device company reported better-than-expected earnings for its fourth fiscal quarter.

Shares of Apple Inc. AAPL, -2.25%  remain under pressure Thursday, after UBS cut its price target on the stock from $235 to $225, following the release of its annual survey of smartphone users, which indicated that the time consumers wait before upgrading to a new phone will continue to lengthen. Earlier this week, Goldman Sachs analyst Rod Hall estimated that 29% of the company’s earnings could be at risk if China decided to ban sales of Apple products. The stock is down 1.5%, and has fallen 4.8% so far this week.

How are other markets trading?

Stock markets in Asia closed lower, with the Shanghai Composite SHCOMP, -1.36% losing 1.4%, Hong Kong’s Hang Seng Index HSI, -1.58% down 1.6% and Japan’s Nikkei 225 NIK, -0.62% falling 0.6%. European stocks SXXP, -1.44% were trading 1.2% lower Thursday.

Among commodities, crude prices US:CLU8 fell sharply, while gold GCM19, +0.74% inched up and the U.S. dollar DXY, +0.16% DXY, +0.16% DXY, +0.16% DXY, +0.16% was higher, notably against the British pound GBPUSD, -0.0948%

Providing critical information for the U.S. trading day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.

Let's block ads! (Why?)

https://www.marketwatch.com/story/us-stock-futures-drop-as-china-trade-spat-continues-to-unsettle-investors-2019-05-23

2019-05-23 13:44:00Z
CAIiELt1qIzSJNeWcgUXq_Z0ISkqGAgEKg8IACoHCAowjujJATDXzBUwiJS0AQ

Here are all the companies that have cut ties with Huawei, dealing the Chinese tech giant a crushing blow - Business Insider

Huawei CEO Ren Zhengfei.The Asahi Shimbun/The Asahi Shimbun via Getty Images

• Last week the US government blacklisted Huawei.
• Major US companies like Google, Qualcomm, and Intel were quick to sever business ties with the company to comply with the order.
• Firms outside of the US have also decided to cut ties with Huawei, including in the UK and Japan.
• Visit Business Insider's homepage for more stories.

Since the US government blacklisted Chinese tech giant Huawei, a slew of companies have cut ties with the firm.

Last week President Donald Trump signed an executive order declaring a national emergency designating Huawei as a national security risk, leading the Department of Commerce to place the firm on an "entity list." This means that US firms have to seek government permission before doing business with Huawei.

Read more: Huawei's torment in the US could be about to backfire, dealing a stinging blow to Apple

Big US firms were quick to respond to the order, although Huawei subsequently received a three-month license to get its house in order before the blacklisting fully kicks in. It isn't just American companies who are cutting ties, however.

Here is a rundown of the biggest firms who have severed business relations with Huawei.

Get the latest Intel stock price here.

Let's block ads! (Why?)

https://www.businessinsider.com/all-the-companies-that-have-cut-ties-with-huawei-2019-5

2019-05-23 10:42:45Z
52780301547823

U.S. stock futures tumble as China trade spat continues to unsettle investors - MarketWatch

Stock futures fell sharply on Thursday, amid investor concern that trade tensions between the U.S. and China could get much worse before they improve.

How are the major benchmarks trading?

Dow Jones Industrial Average futures YMM19, -0.94%  fell 261 points, or 1%, to 25,510, while S&P 500 futures ESM19, -0.97%  fell 18.40 points, or 0.6%, to 2,839. Nasdaq-100 futures NQM19, -1.33%  were the hardest hit, dropping 107.25 points, or 1.5%, to 7,322.50.

On Wednesday, the Dow Jones Industrial Average DJIA, -0.39% was down 100.72 points, or 0.4%, to 25,776.61 and the S&P 500 index SPX, -0.28%  fell 8.09 points, or 0.3%, to 2,856.27. The Nasdaq Composite Index COMP, -0.45%  slipped 34.88 points, or 0.5%, to 7,750.84.

What’s driving the market?

Amid this week’s increasing trade tensions — especially surrounding the technology sector — investors are beginning to adjust to the idea of a protracted standoff between the U.S. and China. U.S. tech stocks led losses on Wednesday, and Asia picked up the baton on Thursday.

Read: Trade standoff between U.S., China may be settling in for the long run

Taiwan’s tech-heavy stock index fell amid losses for chipmaking giant Taiwan Semiconductor Manufacturing TSM, -1.02% 2330, -3.36% a supplier for Huawei Technologies Co. Asian tech weakness came after The Wall Street Journal reported U.K.-chip design company Arm Holdings was halting business with Huawei.

Trade talks can only continue when the U.S. adjusts its “wrong actions,” Gao Feng, spokesperson for China’s Ministry of Commerce, reportedly said Thursday in a briefing, according to translated remarks. He added that the U.S. crackdown on China companies is threatening the “global industrial and supply chain.”

Meanwhile, the South China Morning Post reported that tensions are forcing China to rethink its entire economic relationship with the U.S.. That’s as Huawei, meanwhile, is reportedly exploring the development of its own operating system if it can’t access that of Alphabet’s GOOGL, +0.12%  Google or Microsoft Corp. MSFT, +0.61%

Stocks on Wednesday failed to get a lift from the minutes of the Federal Open Market Committee’s latest meeting, which revealed interest rates are expected to remain steady “for some time.”

Investors will get a handful of economic updates on Thursday, starting with weekly jobless claims due at 8:30 a.m. Eastern Time, followed by the Markit manufacturing and services purchasing managers indexes for May due at 9:45 a.m. Eastern. New home sales for April are due at 10 a.m. Eastern.

What are analysts saying?

“The prospect of a speedy conclusion to the current tensions between the U.S. and China continues to recede, and as such the caution of the last few days, runs the risk of turning into a full-blown retreat from those sectors that are likely to be hit the hardest, from further escalations,” said Michael Hewson, chief market analyst at CMC Markets, in a note to clients.

How are other markets trading?

Asian stocks had a mostly losing session, with losses climbing for Shanghai Composite SHCOMP, -1.36% which fell 1.4%. European stocks SXXP, -1.49% were all down at the start of trading.

Among commodities, crude prices US:CLU8 also fell sharply, while gold GCM19, +0.16% inched up and the U.S. dollar DXY, +0.16% DXY, +0.16% DXY, +0.16% DXY, +0.16% was higher, notably against the British pound GBPUSD, -0.1659%

Providing critical information for the U.S. trading day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.

More from MarketWatch

Let's block ads! (Why?)

https://www.marketwatch.com/story/us-stock-futures-drop-as-china-trade-spat-continues-to-unsettle-investors-2019-05-23

2019-05-23 10:23:00Z
CAIiELt1qIzSJNeWcgUXq_Z0ISkqGAgEKg8IACoHCAowjujJATDXzBUwiJS0AQ

U.S. stock futures drop as China trade spat continues to unsettle investors - MarketWatch

Stock futures fell sharply on Thursday, amid investor concern that trade tensions between the U.S. and China could get much worse before they improve.

How are the major benchmarks trading?

Dow Jones Industrial Average futures YMM19, -0.94%  fell 158 points, or 0.6%, to 25,615, while S&P 500 futures ESM19, -0.99%  fell 18.40 points, or 0.6%, to 2,839. Nasdaq-100 futures NQM19, -1.38%  were the hardest hit, dropping 68.50 points, or 0.9%, to 7,361.

On Wednesday, the Dow Jones Industrial Average DJIA, -0.39% was down 100.72 points, or 0.4%, to 25,776.61 and the S&P 500 index SPX, -0.28%  fell 8.09 points, or 0.3%, to 2,856.27. The Nasdaq Composite Index COMP, -0.45%  slipped 34.88 points, or 0.5%, to 7,750.84.

What’s driving the market?

Amid this week’s increasing trade tensions — especially surrounding the technology sector — investors are beginning to adjust to the idea of a protracted standoff between the U.S. and China. U.S. tech stocks led losses on Wednesday, and Asia picked up the baton on Thursday.

Read: Trade standoff between U.S., China may be settling in for the long run

Taiwan’s tech-heavy stock index was hit by losses for chipmaking giant Taiwan Semiconductor Manufacturing TSM, -1.02% 2330, -3.36% a supplier for Huawei Technologies Co. Asian tech weakness came after The Wall Street Journal reported U.K.-chip design company Arm Holdings was halting business with Huawei.

Meanwhile, the South China Morning Post reported that trade tensions are forcing China to rethink its entire economic relationship with the U.S.. That’s as Huawei, meanwhile, is reportedly exploring the development of its own operating system if it can’t access that of Alphabet’s GOOGL, +0.12%  Google or Microsoft Corp. MSFT, +0.61%

Stocks on Wednesday failed to get a lift from the minutes of the Federal Open Market Committee’s latest meeting, which revealed interest rates are expected to remain steady “for some time.”

Investors will get a handful of economic updates on Thursday, starting with weekly jobless claims due at 8:30 a.m. Eastern Time, followed by the Markit manufacturing and services purchasing managers indexes for May due at 9:45 a.m. Eastern. New home sales for April are due at 10 a.m. Eastern.

What are analysts saying?

“The prospect of a speedy conclusion to the current tensions between the U.S. and China continues to recede, and as such the caution of the last few days, runs the risk of turning into a full-blown retreat from those sectors that are likely to be hit the hardest, from further escalations,” said Michael Hewson, chief market analyst at CMC Markets, in a note to clients.

How are other markets trading?

Asian stocks had a mostly losing session, with losses climbing for Shanghai Composite SHCOMP, -1.36% which fell 1.4%. European stocks SXXP, -1.41% were all down at the start of trading.

Among commodities, crude prices US:CLU8 declined, while, gold GCM19, +0.09% was softer and the U.S. dollar DXY, +0.19% DXY, +0.19% DXY, +0.19% DXY, +0.19% was higher, notably against the British pound GBPUSD, -0.1501%

Providing critical information for the U.S. trading day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.

Let's block ads! (Why?)

https://www.marketwatch.com/story/us-stock-futures-drop-as-china-trade-spat-continues-to-unsettle-investors-2019-05-23

2019-05-23 08:14:00Z
52780301965983

Elon Musk’s Science Projects Are Killing Tesla Stock, Warns Analyst - CCN

By CCN: Tesla is getting hammered day after day on the stock market, leaving Elon Musk with no option but to adopt desperate measures to save his beloved electric car company.

Tesla stock is crumbling day after day as Wall Street is turning against the stock | Source: Yahoo! Finance

But Wall Street is not convinced, as one more analyst firm has joined the chorus against Elon Musk and slashed its Tesla stock price target.

Elon Musk’s distractions are hurting Tesla stock

Daniel Ives, an analyst investment firm Wedbush Securities, was bullish on Tesla stock once upon a time. But Elon Musk’s antics have forced him to sing a different tune of late.

Just last month, Ives lowered his Tesla stock price target to $275 from $365, stating that his firm “no longer can look investors in the eye and recommend buying this stock.” But Ives’ disappointment with Musk and Tesla seems to have reached new highs.

The Wedbush analyst has now reduced his Tesla stock price target to $230. Ives stated his concerns in a research note to clients:

With a code red situation at Tesla, Musk & Co. are expanding into insurance, robotaxis, and other sci-fi projects/endeavors when the company instead should be laser-focused on shoring up core demand for Model 3 and simplifying its business model and expense structure in our opinion with headwinds abound.

This is the second time in the space of less than a month that Ives is calling on Musk to focus on the core issues at the EV maker. The Wedbush analyst believes that Tesla faces “a Herculean task” to achieve its delivery forecast of 360,000 to 400,000 vehicles as Musk had predicted earlier this year.

Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.

— Elon Musk (@elonmusk) February 20, 2019

This makes it clear that the market isn’t buying the South African billionaire’s shenanigans to pump up Tesla’s stock price. Wall Street now wants results, and Musk is far from delivering them because of his antics.

Musk gets down to the brass tacks, but is it too late?

Elon Musk has been in his own pompous self for much of the year, promising Tesla investors the world. He has made absurd claims such as the launch of a million robotaxis by next year, and also telling Tesla vehicle owners that the price of their cars will appreciate once the full self-driving software update goes out.

Musk then said that the $2 billion capital that the company is raising will help in the development of self-driving cars and take Tesla stock to new highs. But as it turned out, Musk was simply putting up a brave face while Tesla was in shambles.

He has now been forced to admit that the company has only months to run, prompting Musk to aggressively streamline expenses.

Musk to review all of Tesla's expenses in new cost cutting plan https://t.co/lftMYvH3LF pic.twitter.com/9zZdnSsH9Z

— Reuters Top News (@Reuters) May 16, 2019

But it remains to be seen if the Tesla CEO has woken up at the right time. Or is he is late in his realization that the EV maker could be going under?

The blame squarely lies with Musk as he has divided his time between his interstellar dreams, hyperloop, the Boring Company, and god knows what else. The CEO’s focus on these science projects has distracted him from the happenings at Tesla.

With Tesla stock now crumbling day after day thanks to Wall Street’s negative sentiment and key investors bailing out, Musk is finally ditching rhetoric for sincerity. But will that stop Tesla from going bust? Only time can tell us.

Let's block ads! (Why?)

https://www.ccn.com/elon-musks-science-projects-killing-tesla-stock-analyst

2019-05-23 06:22:30Z
52780301789510

Trump's Huawei ban may leave the tech giant up a creek without a paddle for its next 2 major smartphones - Business Insider

Reuters

• Huawei can no longer use Google's Android operating system and services on its future smartphones now that it's been placed on the US Commerce Department's entity list.
• The move could make Huawei's smartphones dramatically less appealing as the company is on the verge of two important product launches: its next flagship and its first foldable phone.
• It could also threaten Huawei's ability to expand outside of China, potentially jeopardizing its position as a leader in the global smartphone market.
• Visit Business Insider's homepage for more stories.

Just last month, Huawei made headlines as the only major smartphone maker to see its volumes grow worldwide in a market that's been on the decline for six consecutive quarters. But now, only several weeks later, Huawei's spot at the top of the global smartphone market could be in question as the company is on the verge of two important product launches: its next-generation flagship phone and its first foldable phone.

That uncertainty stems from Google significantly scaling back its business with Huawei in a move that would prevent the Chinese tech giant from putting Google's software — including its Play app store and services — on its future handsets. As such, Huawei's upcoming smartphones will not be able to run on Android, or at least the version of Android consumers are familiar with. That's because Google can no longer transfer technology to the Chinese tech firm without obtaining government permission now that Huawei has been placed on the US Commerce Department's entity list.

Without Android, the biggest smartphone platform in the world that supports millions of applications, Huawei's smartphones could become dramatically less appealing. That calls into question whether Huawei's next-generation flagship smartphone, expected to be called the Mate 30 Pro, will see the same level of success as its Mate 20 predecessor, of which Huawei shipped 10 million units between its October announcement and March 2019.

"I've got to think we're going to see a hit on sales immediately," said Frank Gillett, a vice president and principal analyst at market research firm Forrester, when asked by Business Insider how long it will take to see the ramifications of Google's scaled-back relationship with Huawei. "Anyone buying a phone has to wonder for how long Google will allow software updates and operation, because it's not clear yet."

Read more: A smartphone company you've never heard of rose to fame by being the opposite of Apple and Samsung. Now it looks like that might be starting to change.

Losing Google's support likely won't matter much in China, Huawei's biggest market, where the search giant's services are banned. But it could have an impact on other areas of the world, particularly Europe, which is a key market for Huawei. The company said in its annual report that 28.4% of its business comes from the Europe, Middle East, and Africa region, where its smartphones accounted for 23.3% of the mobile device market as of the first quarter of 2019, according to market research firm Canalys.

Huawei doesn't appear to be very worried about the impact these restrictions could have on its revenue.

"It is expected that Huawei's growth may slow, but only slightly," Huawei founder and chief executive Ren Zhengfei said in a recent interview with Nikkei Asian Review. He added that the company's annual revenue growth could come in under its previous goal of 20%.

Huawei has been granted a reprieve that will allow it to maintain and provide updates to existing customers until August 19. But that probably won't help the company when it comes to its Mate 30 Pro launch, which is expected to arrive in the fall timeframe.

Huawei's Mate 20 Pro smartphoneAntonio Villas-Boas/Business Insider

Huawei's Mate 20 Pro launched last October to rave reviews, with CNET essentially calling it a cross between Samsung's Galaxy S9 and Apple's iPhone X and The Guardian writing that Huawei has "pulled off something special" with the phone. Before that, Huawei's Mate 10 Pro debuted in October 2017, suggesting that the Mate 30 Pro may not be released until after Google's suspension of Android goes into effect.

Huawei's Mate X, the company's first foldable phone that's expected to debut in mid-2019 after generating significant buzz at Mobile World Congress earlier this year, could also face an uncertain future even if it does launch before August 19. Given the fact that Google has been tailoring its operating system specifically for foldable smartphones, Android could be especially important for the Mate X.

For example, Google said at its recent developers conference that Android Q will be designed to accommodate different screen dimensions, and the company held a session for developers to educate them on how to design apps for foldable multi-display devices. Such efforts  are critical to make foldable phones like the Mate X and Samsung's Galaxy Fold successful, considering they require apps and software features that work smoothly across different screen sizes and form factors. That could give rival foldable phones that run on Google's software an important advantage over Huawei's.

Reuters

Huawei has said that it's working on its own operating system for phones to replace Android in preparation for a scenario like this in which it cannot work with Google on future hardware. But little is known about that software, leaving many lingering questions for potential customers such as whether it will be ready in time for the Mate 30 Pro and Mate X launches and how well it will support foldable form factors. Plus, convincing consumers outside of China to pay for an expensive phone like the Mate X, which will cost around $2,600, or the Mate 30 Pro without Google's expansive app store could present another challenge.

Huawei already has its own app store, and it's been in talks with European wireless carriers to expand the reach of its digital storefront, according to Bloomberg. Even so, it's unclear how many consumers actually use those apps. It's common for smartphone makers to preload devices with their own apps or app stores, but those devices typically include Google's Play Store as well.

To be clear, the Trump administration's decision to place Huawei on this trade blacklist doesn't mean certain doom for Huawei.  The US government similarly banned American companies from selling components to Chinese phone maker ZTE in May 2018, but eventually reached an agreement with the company that resulted in those sanctions being lifted. But at the very least, the episode could make consumers wary of purchasing electronics made in China, says Gillett.

"People are going to be more conscious of whether they're comfortable buying from a Chinese smartphone maker," he said. "If the key features of your phone get turned off, that's a scary prospect."

Let's block ads! (Why?)

https://www.businessinsider.com/trump-blacklist-huawei-could-jeopardize-mate-x-mate-30-release-2019-5

2019-05-22 15:39:21Z
52780299976088