Broadcom’s $2 billion warning rattles global chip sector

LONDON/BENGALURU (Reuters) – Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company’s sales this year.

The forecast, included in the company’s second-quarter results late on Thursday, was the hardest evidence yet of the damage President Donald Trump’s trade war with Beijing may do to the global industry.

Shares in Broadcom fell as much as ...

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