3 Chip Stocks Exposure: Skyworks, FormFactor, MACOM in Focus
Skyworks Solutions, FormFactor and MACOM Technology Solutions Holdings are being flagged as US-listed chip names with low China exposure, after Nvidia's internal probe into CEO Jensen Huang put AI chip governance and national security risk in the spotlight.
Skyworks Solutions, FormFactor and MACOM Technology Solutions Holdings are three US-listed chip stocks drawing attention on November 9, 2026 from investors who want AI exposure with less China risk. The interest follows Nvidia's internal probe into CEO Jensen Huang and possible foreign intelligence targeting.
The probe has put governance and national security risk in the spotlight. That worry spills over to anything tied to the AI chip story, according to the analysis behind the three picks.
Investors are now scanning for alternatives that could benefit as attention broadens. The three names come from a screen of US-listed semiconductor and chip equipment companies with low China exposure. The same screen surfaced 59 more companies not covered in the analysis.
Skyworks Solutions
Skyworks develops analog and mixed signal chips used in wireless connectivity and radio frequency hardware. All of its recent revenue, about US$4.0 billion, comes from proprietary semiconductor products. The stock is valued at roughly US$12.4 billion.
The analysis says its business leans more on US handset and internet-of-things demand than on AI GPU exports. It points to a multigenerational Android design win that management expects to exceed US$1 billion in revenue through 2030.
FormFactor
FormFactor makes semiconductor test hardware, including probe cards and systems. Chipmakers in the US, Korea and Taiwan use them to qualify advanced processors, memory and photonics hardware tied to AI and high performance computing.
It generated about US$802 million from probe cards and US$178 million from systems, and the business is valued at roughly US$6.4 billion. The analysis says its revenue base leans on diversified fabs and advanced nodes rather than heavy China exposure.
It also cites a record US$48.5 million Systems quarter. Revenue from co-packaged optics test is now expected to significantly exceed US$20 million in 2026, the analysis says.
MACOM Technology Solutions Holdings
MACOM, listed under the ticker MTSI, is a US-listed analog and RF chip supplier serving telecom, data center optics and industrial customers. It has grown into a business valued at roughly US$16.1 billion, on about US$1.3 billion of semiconductor and module revenue.
For investors watching the fallout from Nvidia's probe, the analysis describes MACOM as a way to tap AI-adjacent demand that relies more on optical links than on GPUs.
The analysis is a screen-based idea list, not a recommendation to buy any of the three stocks.
