Needham analysts Alex Henderson and N. Quinn Bolton said they sees the chances of an outright ban of sales to Huawei as "extremely low," adding that it is their understanding the probe into Huawei has been ongoing for the last two years while noting that the ZTE probe took over five years to complete. The ironic impact of any escalation in trade tension could be an increase in demand from Huawei to build an inventory buffer should there be a supply disruption, added the analysts, who also say they would not be surprised to see a trade agreement with China include a resolution of the ZTE (ZTCOY) ban and possibly an agreement on the scope of action against Huawei.

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