Goldman Sachs
- These 11 companies rely heavily on sales to China, according to Goldman Sachs.
- The companies’ returns have lagged the market since President Donald Trump announced additional tariffs on May 5, andmay be subject to further volatility if trade tensions continue.
- Visit MarketsInsider.com for more stories.
President Trump launched a new bout of stock-market volatility on May 5 by announcing additional tariffs on Chinese goods. In particular, stocks with significant revenue exposure to China have come under pressure.
According to a new report from Goldman Sachs, US stocks with exposure to China have significantly lagged the S&P 500 since Trump’s tweet.
In particular, the semiconductor industry has significant exposure to China. The iShares PHLX Semiconductor ETF is down 17% since May 5 while the S&P 500 lost just 5%. Other sectors, such as gaming and commercial lasers, have also been affected.
Markets Insider highlights the 11 companies that have the most sales exposure to China:
Microchip Technology
Duke Health
Ticker: MCHP
Industry: Semiconductors
Market Cap: $19 billion
YTD Return: 13%
Total Revenue: $4 billion
China Exposure (revenue): 30%
Source: Goldman Sachs
A. O. Smith Corp.
The Library of Congress/Flickr
Ticker: AOS
Industry: Boilers and heating systems
Market Cap: $6 billion
YTD Return: 4%
Total Revenue: $3 billion
China Exposure (revenue): 35%
Source: Goldman Sachs
Western Digital
Wikimedia Commons
Ticker: WDC
Industry: Hard-drive manufacturer
Market Cap: $12 billion
YTD Return: 12%
Total Revenue: $19 billion
China Exposure (revenue): 39%
Source: Goldman Sachs
IPG Photonics Corp.
NYSE Euronext via YouTube
Ticker: IPGP
Industry: Commercial laser technology
Market Cap: $7 billion
YTD Return: 16%
Total Revenue: $1 billion
China Exposure (revenue): 44%
Source: Goldman Sachs
Texas Instruments
Sean Rayford/AP Images
Ticker: TXN
Industry: Semiconductors
Market Cap: $99 billion
YTD Return: 13%
Total Revenue: $15 billion
China Exposure (revenue): 44%
Source: Goldman Sachs
Micron Technology
REUTERS/Brian Losness
Ticker: MU
Industry: Semiconductors
Market Cap: $38 billion
YTD Return: 7%
Total Revenue: $20 billion
China Exposure (revenue): 51%
Source: Goldman Sachs
Qorvo
Thomson Reuters
Ticker: QRVO
Industry: Wireless and broadband
Market Cap: $8 billion
YTD Return: 3%
Total Revenue: $3 billion
China Exposure (revenue): 52%
Source: Goldman Sachs
Broadcom
Ticker: AVGO
Industry: Semiconductors
Market Cap: $101 billion
YTD Return: 2%
Total Revenue: $18 billion
China Exposure (revenue): 54%
Source: Goldman Sachs
Qualcomm
Reuters / Rick Wilking
Ticker: QCOM
Industry: Semiconductors
Market Cap: $80 billion
YTD Return: 18%
Total Revenue: $22 billion
China Exposure (revenue): 65%
Source: Goldman Sachs
Wynn Resorts
AP/Bobby Yip
Ticker: WYNN
Industry: Casino & Gaming
Market Cap: $12 billion
YTD Return: 17%
Total Revenue: $6 billion
China Exposure (revenue): 73%
Source: Goldman Sachs
Skyworks Solutions
Skyworks
Ticker: SWKS
Industry: Semiconductors
Market Cap: $12 billion
YTD Return: 5%
Total Revenue: $4 billion
China Exposure (revenue): 83%
Source: Goldman Sachs
