IQE, which makes semiconductor wafers for chips used in Apple products among others, is also suffering from a global slowdown in demand. The company now expects revenue of £140 million to £160 million this year, compared with analysts’ consensus estimate of £175 million. IQE said this reflected a larger impact than previously forecast for risks related specifically to Huawei. IQE had said in May that less than 5 per cent of its 2019 revenue was exposed to Huawei risks. At 10:30am, IQE shares were down 31 per cent, having earlier hit a 15-month low.

Source: The Irish Times June 21, 2019 09:56 UTC