AMD, Intel dip on report China told telecoms to remove foreign chips

News Snapshot:

Semiconductors are a key focus in the technology trade war taking place between the U.S. and China. Shares of Advanced Micro Devices and Intel dipped on Friday after The Wall Street Journal reported that China is ordering the country's largest telecommunications carriers to cease use of foreign chips. Chinese officials issued the directive earlier this year for the telecom systems to replace non-Chinese core processors by 2027, the Journal reported, citing people familiar with the matter. The report said the mandate would impact Intel and AMD. Both stocks traded down as much as 4% on Friday morning. Intel declined to...