Watch out for falling tech companies' shares.
As worries of a potential trade war between the U.S. and China intensified, the Dow Jones Industrial Average was falling close to 300 points in afternoon trading on Tuesday, June 19. Several tech stocks with significant exposure to China were among the biggest losers, including these six:
1. Tesla Inc. (TSLA)
Calling Tesla a tech company is a loose fit, but when it comes to electric vehicles, it sure does fill them to the brim with technology. Last year, China made up 17% of Tesla's sales, and it's growing quickly. The electric carmaker's share price was down 4.2% on Tuesday.
2. Skyworks Solutions, Inc. (SWKS)
With 80% of its revenue coming from China according to FactSet, Skyworks was a top pick to get beaten down when the markets opened. The chipmaker took some light punches initially, and was down 1.8% in the afternoon.
3. Qorvo Inc. (QRVO)
Another semiconductor company that receives a significant amount of revenue from China -- 60% -- Qorvo took a few lumps but was still standing. Shares dipped by 2.8% for the day.
4. Qualcomm Inc. (QCOM)
The mobile phone processor manufacturer had its stock price take a little tumble Tuesday, and was down 1.2% by the afternoon. It could have been worse considering the ties Qualcomm has to multiple Chinese tech companies such as Huawei.
5. Baidu Inc. (BIDU)
As a company based in China that provides a Chinese-language search engine, it's no wonder Baidu fell hard Tuesday, with shares dropping by about 3%.
6. ASML Holding N.V. (ASML)
A Dutch company that makes the equipment used to make computer chips, ASML took a hit Tuesday as its shares were falling 2.5% by the afternoon. Back in May, the company received its first order from China worth $120 million.