A little-publicized provision in a U.S. government budget resolution that largely prohibits four agencies from using Chinese-made IT products could backfire, several tech trade groups said.
Semiconductor Industry Association
Increased sales of electronics and new forms of computing devices will drive the worldwide semiconductor market to growth this year after a slowdown in 2012, the nonprofit organization World Semiconductor Trade Statistics said on Monday.
After several days of gains, tech stocks dropped Thursday as markets declined on disappointing news from Europe, where government officials are meeting to try to solve the sovereign debt crisis afflicting several countries in the euro area.
U.S. exchanges were volatile Friday after suffering their worst drop in more than two years Thursday, taking IT companies' shares down along with stocks in just about every other sector of the economy.
Despite an unusual earnings miss Thursday by Internet bellwether Google, continuing geopolitical turmoil and disappointing news for the PC market, IT is demonstrating continuing resilience as tech stocks in certain sectors moved higher Friday.
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