The semiconductor industry joined the growing chorus of not doing business with Russia after its President Vladimir Putin ordered the invasion of Ukraine, and chip stocks fell in Monday morning trading. But analysts did not seem concerned.
Semiconductor companies are banning sales to Russia following the company’s invasion of Ukraine, but an analyst says the companies shouldn’t feel much of an effect.
The semiconductor industry joined the growing chorus of not doing business with Russia after its President Vladimir Putin ordered the invasion of Ukraine, and chip stocks fell in Monday morning trading, with the PHLX Semiconductor Index SOX, -0.67% down 1.4% in recent activity.
Read: Semiconductor sales top half a trillion dollars for the first time, and are expected to keep growing“Russia accounts for less than 2% of global PC shipments, ~2% of handset and smartphone shipments, ~1% of server shipments, and ~2% of automotive shipments,” Rasgon said. “Hence we would not expect sanctions and export controls on Russia to have any real material impact on the various end markets that are major drivers of semiconductor demand.
When Russia invaded Ukraine, the U.S. Commerce Department’s Bureau of Industry and Security passed broad export controls against Russia while the Treasury Department’s Office of Foreign Assets Control imposed “unprecedented” sanctions. Intel Corp. INTC, -0.02% confirmed it is complying with those restrictions, while Advanced Micro Devices Inc. AMD, +1.88% is reportedly halting Russian shipments and third-party silicon wafer maker Taiwan Semiconductor Manufacturing Co. TSM, -3.
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