Top 10 U.S. Stocks by China Revenue Exposure
Las Vegas Sands (LVS): 63%
Qualcomm (QCOM): 62%
KLA (KLAC): 51%
Wynn Resorts (WYNN): 47%
Intel (INTC): 40%
Nvidia (NVDA): 39%
Corning (GLW): 39%
Broadcom (AVGO): 32%
Aptiv (APTV): 28%
Teradyne (TER): 26%
All are potentially vulnerable to disruptions from export restrictions, supply chain barriers, or demand slowdowns driven by political friction.
Opinion
As trade tensions rise, these companies face multi-dimensional exposure: from falling Chinese consumer demand to tightening export controls and supply chain inefficiencies.
Companies with over 50% of revenue tied to China may face disproportionate earnings downside in a worst-case scenario.
Core Sell Point
Firms highly reliant on Chinese revenue streams are structurally exposed in the current phase of U.S.–China trade escalation. Investors should be cautious of earnings volatility, regulatory risk, and long-term market access disruptions.
As U.S.–China trade tensions escalate, a select group of U.S.-listed companies with significant revenue exposure to China may be facing heightened earnings risk. According to Goldman Sachs and CarbonFinance, these companies span various industries, yet share a common vulnerability: China accounts for a substantial portion of their total sales.
Las Vegas Sands (LVS, 63%) and Wynn Resorts (WYNN, 47%) generate a majority of revenue from Macau-based casino operations, effectively tying performance to the Chinese consumer economy. Qualcomm (QCOM, 62%) and Intel (INTC, 40%) rely heavily on Chinese handset and electronics clients for chip sales. Even Nvidia (NVDA, 39%), despite its AI and datacenter-driven growth, remains exposed to export risks should high-performance chip restrictions broaden.
Teradyne (TER, 26%) – semiconductor test equipment
If tariffs increase or export controls are expanded, these companies could see near-term volatility in earnings, paired with declining investor sentiment tied to geopolitical uncertainty.
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