Little-known San Jose optical-parts maker Oclaro became the face of a US ban on March 8 as its shares led telecom-components makers lower over restrictions on selling components to China's ZTE Corp.
Shares of Oclaro, the rare component maker to issue a statement on the expected effect of the restrictions, slumped 15.4%. Oclaro sells multiple products to ZTE, a maker of mobile devices and telecoms systems.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!