Semiconductor shares fell in Friday Trading. SOXL fell 8%; AMD fell 6%; Nvidia fell 4%; Broadcom fell 2.4%; TSMC fell 1.3%.

Goldman Sachs upgrades NXP Semiconductor to buy from neutral and downgrades AMD to neutral from buy. “We downgrade AMD to Neutral from Buy with our updated 12-month price target of $129 (down from $175 prior) representing 6% potential upside from current levels. ... .We upgrade NXPI to Buy from Neutral with our updated 12-month price target of $257 (down from $260 prior) implying 23% potential upside.”

The Biden administration, in its final few days, is expected to unveil stricter curbs on export sales, according to a Bloomberg report Wednesday. The regulations could create three tiers of chip controls, it added, citing people familiar with the matter. A top group of U.S. allies would retain full access to U.S. semiconductor technology but most countries would be hit with new restrictions.

The artificial-intelligence chip maker is clearly unhappy with the proposals and took the unusual step of commenting despite the reports being unconfirmed.

“The extreme ‘country cap’ policy will affect mainstream computers in countries around the world, do nothing to promote national security, but rather push the world to alternative technologies,” Nvidia’s vice president of government affairs, Ned Finkle, said in an emailed statement to Barron’s.

He added that the “last-minute” policy by the Biden administration would be a legacy that will be criticized by U.S. industry and the global community. Finkle urged Biden “not to pre-empt” the coming Trump administration, adding that the policy would “play into the hands of U.S. adversaries.”