US Government Announces 25 Percent Tariff On All Imported Semiconductors

US Government Announces 25 Percent Tariff On All Imported Semiconductors: the analysis positions AMAT, GFS and INTC to benefit and AAPL, AMD and AVGO under pressure; confidence medium.

Analyzed 2026-08-18 — point-in-time, never revised. Outcomes are scored against SPY and published either way.

Ranked exposures

1. ▼ AAPL Apple Inc. — confidence medium
   Tariffs on overseas-made chips could raise Apple’s iPhone and Mac input costs, pressuring gross margins unless the company passes costs on to consumers.
2. ▼ AMD Advanced Micro Devices, Inc. — confidence medium
   AMD’s reliance on overseas TSMC fabs and packaging partners exposes its imported CPUs, GPUs, and accelerators to higher tariffs and materially increased landed costs.
3. ▼ AVGO Broadcom Inc. — confidence medium
   Broadcom faces potential margin and demand pressure as overseas production of its networking and custom chips raises costs for U.S. customers.
4. ▼ DELL Dell Technologies Inc. — confidence medium
   Dell may face higher imported chip costs, potentially squeezing already-thin PC and server hardware margins.
5. ▼ HPQ HP Inc. — confidence medium
   HP may face margin pressure and weaker demand as chip tariffs raise costs for imported processors, forcing PC and printer price increases in a soft consumer market.
6. ▼ NVDA NVIDIA Corporation — confidence medium
   NVIDIA’s heavy reliance on TSMC’s Taiwan-based fabrication and overseas packaging could expose it to 25% tariffs, raising costs and disrupting supply economics.
7. ▼ QCOM QUALCOMM Incorporated — confidence medium
   Tariffs on Asian-made chips could raise Qualcomm’s costs, pressure margins, and weaken demand for phones and connected devices using its components.
8. ▼ F Ford Motor Company — confidence low
   Ford could experience higher input costs and supply-chain disruption from tariffed imported chips used throughout its vehicle lineup.
9. ▼ GM General Motors Company — confidence low
   General Motors could see vehicle-production costs rise because modern vehicles rely heavily on globally sourced semiconductor components.
10. ▼ MRVL Marvell Technology, Inc. — confidence low
    Marvell's entirely outsourced advanced-node production in Taiwan leaves it fully exposed to import duties.
11. ▼ SMCI Super Micro Computer, Inc. — confidence low
    Supermicro's AI server assembly relies on imported GPUs and memory, and its low margins leave little room to absorb tariffs.
12. ▼ TSLA Tesla, Inc. — confidence low
    Tesla could face higher costs for imported automotive semiconductors, including chips used in vehicle control systems and computing hardware.
13. ▼ TSM Taiwan Semiconductor Manufacturing Company Limited — confidence low
    As the dominant importer of foundry wafers into the US, TSMC faces tariff-driven demand destruction and customer reshoring pressure.
14. ▲ AMAT Applied Materials, Inc. — confidence medium
    Tariff-driven acceleration of U.S. fab construction and semiconductor-capacity investment could boost domestic equipment spending, benefiting Applied Materials.
15. ▲ GFS GlobalFoundries Inc. — confidence medium
    GlobalFoundries could gain as customers shift mature-node production to its U.S. fabs in New York and Vermont for tariff-free, onshore capacity.
16. ▲ INTC Intel Corporation — confidence medium
    Intel’s extensive U.S. manufacturing footprint and foundry ambitions could make it a major beneficiary as tariffs raise costs for foreign-made chips.
17. ▲ KLAC KLA Corporation — confidence medium
    KLA could gain from increased U.S. fab construction and ramp-ups, driving higher demand for its process-control and inspection equipment.
18. ▲ LRCX Lam Research Corporation — confidence medium
    Lam Research could benefit from increased U.S. chip fabrication investment, driving greater demand for its etch and deposition equipment as manufacturers reshore to avoid tariffs.
19. ▲ MCHP Microchip Technology Incorporated — confidence medium
    Microchip may gain from tariff-driven demand shifts to its U.S. fabs and established North American industrial supply relationships, disadvantaging import-dependent microcontroller rivals.
20. ▲ ON ON Semiconductor Corporation — confidence medium
    Onsemi’s extensive U.S. manufacturing could boost demand for its automotive, industrial, power, and sensor chips as tariffs raise imported competitors’ costs.
21. ▲ TXN Texas Instruments Incorporated — confidence medium
    Texas Instruments’ predominantly U.S.-based analog-chip manufacturing could provide a cost and pricing advantage, improving competitiveness against tariffed imported chips.
22. ▲ WOLF Wolfspeed, Inc. — confidence medium
    Wolfspeed could benefit from policies favoring domestically produced power semiconductors, as its US-based silicon carbide fabs gain protection from imported competitors.
23. ▲ AMKR Amkor Technology, Inc. — confidence low
    Amkor could benefit if semiconductor companies localize more chip packaging and test activity in the United States.
24. ▲ MU Micron Technology, Inc. — confidence low
    Micron's expanding US memory fabs in Idaho and New York position it to gain share against imported Korean and Taiwanese memory.

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Stocks in this scenario

AAPL · AMD · AVGO · DELL · HPQ · NVDA · QCOM · F · GM · MRVL · SMCI · TSLA · TSM · AMAT · GFS · INTC · KLAC · LRCX · MCHP · ON · TXN · WOLF · AMKR · MU

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