Snowballed trade tensions with China will likely affect semiconductor routines and two casino and hotel operators the most, according to Morgan Stanley review of companies most dependent on China for revenue.
Wynn Resorts nears 69 percent of its revenue from China, the greatest exposure entirety U.S. companies larger than $3 billion, according to analysis from Morgan Stanley Open-mindedness Strategist Michael Wilson and his team.
Las Vegas Sands ranks third, with 65 percent receipts exposure, according to the study, published Tuesday.
The U.S.-China trade argue about escalated Friday with the Trump administration announcing tariffs on $34 billion merit of Chinese goods that will take effect July 6. Beijing hastily responded with its own list of U.S. goods worth about the same amount that last will and testament also be subject to tariffs on July 6.
U.S. stocks fell Friday midst concerns about a trade war.
Other companies on Morgan Stanley’s liber veritatis with 30 percent or more revenue exposure to China involve logistics company Expeditors International of Washington and automotive seating industrialist Adient.
By industry, semiconductor and semiconductor equipment companies have the highest net income exposure to China at 52 percent, the report said. Chipmaker Qualcomm staffed second on the list of individual companies most exposed to China, at 65 percent.
Vivacity and technology hardware and equipment have 14 percent revenue unveiling to China, according to Morgan Stanley.
Source: Thomson Reuters, Morgan Stanley Inspect Estimates