CNBC’s Jim Cramer on Monday issued a warning to investors holding computer chipmaker stocks as the White House continues to crack down on business with Chinese telecom giant Huawei.
“If you own these stocks, please recognize the risk,” Cramer said on “Squawk on the Street. “
Alphabet’s Google has since suspended some of its business with the Chinese tech giant, sending shares of Nvidia, Texas Instruments, Advanced Micro, Intel, Qualcomm, Xilinx and Analog Devices tumbling.
Prices were already too high for these tech companies, Cramer said, and the “Mad Money” host expects them to continue dropping.
“If you want to sell these stocks, sell them,” Cramer said. “I found it so silly that people held onto them when all that happened was still more negativity.”
Last week, Cramer said it’s clear Trump does not want American companies doing business with China. “Huawei has the best technology for the 5G wireless infrastructure build-out, but without components from American suppliers, that technology just doesn’t work. They’re gonna get beat.”