These 11 stocks are struggling as the trade war with China heats up

GS China exposure stock revenueGoldman 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, and may 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

Ticker: MCHP

Industry: Semiconductors

Market Cap: $US19 billion

YTD Return: 13%

Total Revenue: $US4 billion

China Exposure (revenue): 30%

Source: Goldman Sachs


A. O. Smith Corp.

Ticker: AOS

Industry: Boilers and heating systems

Market Cap: $US6 billion

YTD Return: 4%

Total Revenue: $US3 billion

China Exposure (revenue): 35%

Source: Goldman Sachs


Western Digital

Ticker: WDC

Industry: Hard-drive manufacturer

Market Cap: $US12 billion

YTD Return: 12%

Total Revenue: $US19 billion

China Exposure (revenue): 39%

Source: Goldman Sachs


IPG Photonics Corp.

Ticker: IPGP

Industry: Commercial laser technology

Market Cap: $US7 billion

YTD Return: 16%

Total Revenue: $US1 billion

China Exposure (revenue): 44%

Source: Goldman Sachs


Texas Instruments

Ticker: TXN

Industry: Semiconductors

Market Cap: $US99 billion

YTD Return: 13%

Total Revenue: $US15 billion

China Exposure (revenue): 44%

Source: Goldman Sachs


Micron Technology

Ticker: MU

Industry: Semiconductors

Market Cap: $US38 billion

YTD Return: 7%

Total Revenue: $US20 billion

China Exposure (revenue): 51%

Source: Goldman Sachs


Qorvo

Ticker: QRVO

Industry: Wireless and broadband

Market Cap: $US8 billion

YTD Return: 3%

Total Revenue: $US3 billion

China Exposure (revenue): 52%

Source: Goldman Sachs


Broadcom

Ticker: AVGO

Industry: Semiconductors

Market Cap: $US101 billion

YTD Return: 2%

Total Revenue: $US18 billion

China Exposure (revenue): 54%

Source: Goldman Sachs


Qualcomm

Ticker: QCOM

Industry: Semiconductors

Market Cap: $US80 billion

YTD Return: 18%

Total Revenue: $US22 billion

China Exposure (revenue): 65%

Source: Goldman Sachs


Wynn Resorts

Ticker: WYNN

Industry: Casino & Gaming

Market Cap: $US12 billion

YTD Return: 17%

Total Revenue: $US6 billion

China Exposure (revenue): 73%

Source: Goldman Sachs


Skyworks Solutions

Skyworks

Ticker: SWKS

Industry: Semiconductors

Market Cap: $US12 billion

YTD Return: 5%

Total Revenue: $US4 billion

China Exposure (revenue): 83%

Source: Goldman Sachs


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