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Flex Ltd.Flex Ltd.Flex Ltd.

Flex Ltd.

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FLEX - DAILY CHARTHi, today we are going to talk about the Flex Ltd and its current landscape. Huawei and its suppliers received exciting news, as the U.S. Commerce Department renewed a 90-day period extension, that grants to American companies’ permission to continue to do business with the giant Chinese telecom companies. Commerce Secretary Wilbur Ross's announcement included that the need for extension was also due to the necessity of some rural communities of the Huawei 3G and 4G networks. The extension should keep the supplying chain going, principally of the Americans ones like Flex Ltd that have its revenues highly exposed to Huawei demand (5% of its revenue, represent by ¥2.43 billons) and have now another quarter of relief from the tension of loose a so significant company like Huawei. The concerning aspect it’s if this extension doesn't lift the results of its supplier on the next quarter, considering that the Chinese company might already be restructuring its supply chain, as the uncertainty created by the ongoing Trade War that ended blacklisting the company on the U.S. The Huawei CEO Ren Zhengfei also already have been clearly vocal that isn't concerned with the U.S decisions and said that Huawei could grow without the U.S markets. Thank you for reading and leave your comments if you like. To have access to our exclusive contents, join the Traders Heaven today! Link Below. Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should be used or take it as financial advice.
NASDAQ:FLEX
by Igor-Silva