MaxLinear cuts revenue outlook in response to U.S. ban on Huawei products
MaxLinear Inc. cut its second-quarter revenue outlook, in response to the Trump administration’s order aimed at banning equipment from China-based Huawei Technologies Co. Ltd. The semiconductor maker’s stock slipped 0.1% in premarket trading. The company said it now expects revenue of $80 million to $85 million, down from previous guidance of $83 million to $88 million. The company maintained its outlook for gross margin at 53% to 54% and for operating expenses at $49.0 million to $49.5 million. MaxLinear said Huawei is “growing customer” of a number of its products, used for several applications in the communications network infrastructure markets. The stock has tumbled 16.9% over the past three months, while the PHLX Semiconductor Index has lost 4.6% and the S&P 500 has slipped 1.7%.
Source : MTV
