The stock price of American chip giant Intel fell significantly by 2.22% on the 8th, closing at $30 per share, due to the cancellation of export licenses to Chinese customers by the US Department of Commerce.
Intel announced on the 8th that the US Department of Commerce issued a notice to it on the 7th stating that it is canceling its license to export consumer related products to a Chinese customer with immediate effect.
Intel has therefore lowered its revenue forecast for the second quarter of this year, although the revenue range remains between the original $12.5 billion to $13.5 billion, it will be lower than the median of this range.
Intel stated that it still expects year-on-year growth in revenue and earnings per share for the full year of this year.
According to the Financial Times, Intel and Qualcomm have respectively received notices from the US Department of Commerce to immediately stop selling chips for laptops and mobile phones to Huawei Technologies.
Data shows that as of the close of the 8th, Intel's stock price has fallen by 40.3% this year, while the Nasdaq Composite Index has risen by 8.6% during the same period.