Will there be a truce, a deal or a further breakdown? All eyes are on this weekend’s G-20 showdown between President Donald Trump and Chinese leader Xi Jinping. For investors on edge about the trade outcome, here are the make-or-break stocks with the most to win or lose, according to Goldman Sachs.
The bank screened Russell-1000 Index member companies for those with high revenue exposure to Greater China, using 2018 company filings.
The list is concentrated in chipmakers including Qorvo, Qualcomm, Micron Technology, Nvidia, Broadcom and Intel. Semiconductors are already under pressure after the Trump administration blacklisted Chinese telecom giant Huawei, a big customer of U.S.-made chips. Nvidia has fallen nearly 9% this quarter, and Micron, while surging double-digit on its earnings on Thursday, is still down more than 7% in the past three months.