The auto sector supply chain "can adjust to a near-term shock and weather the storm" related to the Trump Administration's recently announced tariffs on Mexico and Canada, Wedbush Securities said in a note Monday.
The firm noted the heavy ties of General Motors (GM), Ford Motor (F) and Stellantis (STLA) to much production in those countries, but said the impact on GM and Ford will be minimal if the tariffs remain for 30 to 60 days.
Wedbush said sell-offs will be an opportunity, especially on GM shares.
The brokerage added that Tesla's (TSLA) US supply chain is "much more insulated" than other carmakers, making it the "least exposed" to the overall tariffs.
On the tariffs on China, Wedbush said the impact on the tech sector "will ultimately be much more bark than bite."
The firm said supply chain disruptions for the chip ecosystem "will be very limited" in the short term as it relates to Nvidia (NVDA), Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) and others, with "limited" retaliatory measures from China in the near-term.
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