You can do a lot with a working 5nm process. This will hurt Samsung and TSMC (and by extention Qualcomm and Intel) a lot. The market isn’t just the most cutting edge stuff.
Tesla’s biggest market is China, not America. Elon’s antics are not the cause of this drop. Selling Teslas in China getting harder due to American policies against China. How many Teslas do you think they will let Elon sell if the US bans Tiktok?
of course they did. So did OpenAI and all others.