Tech
Synopsys suspends forecasts after US cracks down on China chip software exports
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Synopsys suspended its annual and quarterly forecasts just a day after issuing them, as new U.S. export restrictions on China cast uncertainty over its ability to sell chip design software in the key market.
Shares of the company were down marginally in extended trading after closing the session nearly 2% lower.
The company said it received a letter from the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce, informing Synopsys of new export restrictions related to China, after reporting results on Wednesday.
“Synopsys is…
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