Ministry of Commerce revokes license to export to China, Intel will hit second quarter revenue

Chipmaker Intel (INTC-US) said on Wednesday (8th) that the U.S. Commerce Department revoked its export licenses for certain consumer-related products to Chinese customers, a move that will affect the company\’s second-quarter revenue.

Chipmaker Intel (INTC-US) said on Wednesday (8th) that the U.S. Department of Commerce revoked its export licenses for certain consumer-related products to Chinese customers, a move that will affect the company\’s second-quarter revenue.
Intel did not name the Chinese customer in its filing with the U.S. Securities and Exchange Commission (SEC).
Reuters reported on Tuesday (7th) that the United States has revoked licenses that allow companies such as Intel and Qualcomm (QCOM-US) to export chips used in laptops and mobile phones to sanctioned Chinese telecom equipment maker Huawei.
Intel said it still expects second-quarter revenue to be in the range of $12.5 to $13.5 billion but below the midpoint.
Shares of the chipmaker fell 2% in premarket trading Wednesday.

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