China tensions and chip sell-off present buying opportunity in three stocks, tech analyst says

, fell 4% in the past week. Losses accelerated Friday after the Trump administration moved to cut off China-based Huawei from accessing chips made with U.S. software or technology.

This is just the latest time chips have been used as a weapon in the trade war, but it shouldn't be a major worry for investors, says Patrick Moorhead, president and principal at Moor Insights & Strategy. "This Huawei spat, China spat — it's just another episode in this ongoing trade and IP. I wouldn't look too closely. I mean this is, what, the 12th version of this of these bilateral spats? And the fact is, both countries need each other," Moorhead told CNBC's "U.S. chipmakers, for instance, generate a major chunk of revenue from China. One of the United States' largest chipmakers, Intel, pulls in nearly 30% of its revenue from the country.

Qualcomm was one of the hardest hit chipmakers on Friday. Moorhead says he is particularly bullish on Qualcomm as well as Intel and

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Huawei calls U.S. move to curb chips supply 'arbitrary', expects business impactHuawei Technologies in its first official response to the Trump administration's move to curb its access to global chip supplies called it 'arbitrary' and said its business would be impacted. That's a Russian Il-2 (Cyrillic: Илью́шин Ил-2) fighter bomber. haha. They should have used a Flying Tigers P-40. Looks like a Russian WW2 aircraft, the Ilyushin Il-2 ground-attack aircraft, known as “Flying Tank” and “Black Death” ! ! ! USA don’t need anymore China bs
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