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Chipmakers may have the most to lose in a trade war with China

  • Investors who are worried over the prospect of a trade war may want to avoid stocks with large revenues in China.
  • Chip stocks dominate the list of companies with large sales exposure to China.

Semiconductors may be the sector most affected by rising trade tensions between the U.S. and China.

The Asian country on Wednesday announced brand-new tariffs on 106 U.S. products, including soybeans, cars, aerospace and defense. The move came a day after the President Donald Trump's administration detailed the list of Chinese imports that it aims to target with tariffs.

Investors are increasingly concerned over the prospect of rising global protectionism

To stay clear of any market turmoil due to a potential trade war, investors may want to avoid U.S. stocks with high sales exposure to China.

Here are the top 20 companies in the S&P 500 with the highest revenue exposure to China, according to FactSet.

Technology companies account for 16 out of the top 20 names. The list is dominated by chip suppliers such as Skyworks Solutions and Broadcom that sell their products to manufacturers in China.

Any trade issues between the U.S. and China could severely disrupt the global technology supply chain for companies such as Apple.