Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
J.P. Morgan is the latest Wall Street firm to recommend Cisco Systems, saying in a note Thursday that investors trying to protect themselves from the trade war should look to the stock as a technology company with little exposure in China.
"Investors are mindful of stocks with high exposure to China and/or Huawei. We continue to recommend [Overweight] rated Cisco as our top pick for investors as a relative safe haven in this macro backdrop catalyst," J.P. Morgan analyst Samik Chatterjee said in the note.
The nod from J.P. Morgan comes after Bank of America highlighted Cisco's "relatively low exposure to China," especially when compared with some of the other biggest tech stocks. Known as FAANG – Facebook, Apple, Amazon, Netflix and Google parent Alphabet – top tech stocks have been among the hardest hit by the heightened trade risk from China, falling 5% to 11% this month.
Cisco shares have fallen 4.3% this month, by comparison. Both J.P. Morgan and Bank of America see upside in part due to Cisco's limited exposure to China, as well as improving overall prospects.
Only 3.3% of Cisco's revenue comes from China, according to FactSet.
Additionally, with Chinese competitor Huawei caught in the middle of the trade war, Chatterjee said Cisco has the "potential to benefit from market share moderation for Huawei led by the component shortages in multiple product categories."
J.P. Morgan also pointed to Ciena, another technology infrastructure company, as a similarly protected stock that could benefit from the pullback in Huawei's reach.
"Led by strong leadership in execution, we find both Cisco and Ciena well positioned to benefit if Huawei's market share were to moderate," Chatterjee said.
Beyond the FAANG stocks, Goldman Sachs in a note on Tuesday warned investors about a host of companies "with explicit sales exposure to China." Some of the top companies listed were Qualcomm (65%), Broadcom (54%), Micron Technology (51%), Western Digital (39%), Intel (24%) and Nvidia (20%), according to Goldman Sachs.
Correction: This story was revised due to incorrect information about the extent of Netflix' business in China. Netflix says it does not receive material revenue from China. Also, Cisco shares have fallen 4.3% in May. An earlier version misstated the move.