S&P 500 Companies that Count Most on China

As the US-China tariff war intensifies, and with expectations that the conflict may persist for years, investors should consider reducing exposure to companies that rely heavily on revenue from the Chinese market. The table below highlights S&P 500 companies with significant income dependence on China.

Company Name	Ticker	China -% of Sales
Monolithic Power Systems	MPWR	53.4%
KLA	KLAC	40.9%
Lam Research	LRCX	37.1%
Albemarle	ALB	36.5%
NXP Semiconductors	NXPI	36.1%
Applied Materials	AMAT	33.9%
Corning	GLW	32.4%
Intel	INTC	29.2%
Advanced Micro Devices	AMD	24.2%
Amphenol	APH	22.3%
Tesla	TSLA	21.4%

Sources: S&P Global Market Intelligence

In addition to the above listed companies, Nike generates 15% of its overall revenues from China, and the Chinese market is its 2nd largest production center behind Vietnam. Also, Apple generates 16% of its revenue from China, and about 90% of the iPhones are assembled in China as well.