Tech Roundup: Chip stocks feel the heat from new US regulations on doing business with China

Tech stocks put in what could best be called a mixed week led by activity in the semiconductor sector and, most recently, a drama between Twitter (NYSE:TWTR) and Elon Musk.

Chip stocks are almost mixed from the opening bell on Monday, as companies and investors continue to hammer out the effects of new U.S. rules designed to keep certain semiconductor technologies out of the military’s reach. Chinese team. Regulations that went into effect earlier this month prevented US companies from working with Chinese chipmakers.

In the middle of the week, some US chip equipment manufacturers such as Lam Research (NASDAQ:LRCX) and Applied Materials (AMAT) is said to have begun suspending their activities in China to conform to new American principles. However, despite a brief rally in the stock market, the sector swooned on Friday and tech leaders like Apple (NASDAQ:AAPL) and Microsoft (MSFT) jEliminate chip leaders in red.

The impact of restrictions in the chip industry has turned investors away from Chinese internet companies like Alibaba (TORTOISE) and Baidu (BIDU).

Intel (INTC), which fell to a 52-week low of $24.59 a share on Thursday, is also dealing with the impact of a report that it will soon lay off 20% of sales and marketing staff.

Apple (AAPL) doesn’t have anything to say about it, but reports have surfaced that the company will soon release a mixed reality headset that will includes an iris scanning feature that will allow people to pay and sign in to Apple (AAPL) services and applications.

Apple (AAPL) is also reported as not providing a wide range of benefits for new employees to workers at its sole union retail store, in Towson, Maryland.

Twitter (TWTR) and Elon Musk have been relatively quiet compared to recent weeks, as the two sides appear to be heading for an October 28 court date in Delaware. Twitter (TWTR) stocks even rose at the start of the week amid reports that some the financiers behind Musk’s $44 billion acquisition still supporting Tesla (TSLA) efforts of the CEO. Meanwhile, Twitter (TWTR) claims that Musk is under federal investigation due to his erratic return to his big acquisition saga.

Netflix (NASDAQ:NFLX) set an upcoming ad-supported subscription launch date. The “Basic with Ads” option, will cost $6.99 a month, currently set to launch on November 3. And the potential benefits from Netflix (NFLX) the new subscription tier has received some upbeat views from Morgan Stanley analyst Benjamin Swinburne.

Ride-sharing giant Uber (UBER) and Lyft (LYFT) hits some bumpy roads as the Biden Administration rolls out a new proposal that could lead to Contract economic workers are classified as regular employees. Uber’s initial response (UBER) shareholders, especially negative, when the company’s stock fell more than 10% on Tuesday.

And the Meta Platform (META) CEO Mark Zuckerberg used the company’s Connect conference to showcase a virtual headset comes with a price tag of $1,500.