The biggest loser was the chip design firm Nvidia, followed by Apple, Caterpillar, Texas Instruments and Boeing. Semiconductor firms were the sector hit worst by the trade war. […]

America’s flagship chip design firms are overwhelmingly dependent on the Asian market. Most of Nvidia’s and Qualcomm’s revenues stem from Asia, not the United States. These firms set the world standard for handset and data processing chips, until late last year, when Huawei released its Ascend chips for large-scale data crunching and smartphone handsets.

Excerpt from: Washington plays Monopoly, Beijing plays go