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ASML: Oddo still a buyer, targets E300

( - The US administration has extended the embargo against Huawei until at least May 2021.

Oddo says that it has decided to block deliveries of semiconductors to Huawei by non-US companies. In other words, the United States is extending the effects of its embargo beyond only American companies that have already been prohibited from working with the Chinese manufacturer for almost a year.

It adds that China could put companies such as Apple, Qualcomm, Cisco or Boeing on exclusion lists.

Oddo remains buyers of ASML (TP E300) and ASMi (TP E135). It says that Aixtron could be more impacted due to the larger share of Chinese customers. STMicroelectronics (Neutral, TP E22) could be one of the most impacted as a major partner of Apple (15% of its sales) and an increasingly important partner of Huawei (a few % of its current sales) for 5G.

Finally, schematically, what is bad for Huawei in 5G could be beneficial for Ericsson (Neutral) and Nokia (Buy).

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