The new 15% tariff on imported polysilicon has suddenly turned a behind the scenes raw material into front page portfolio risk. Supply chains that quietly fed solar and semiconductor growth now face new winners and losers. For investors, this is where mispricing can appear as the market reassesses who gains pricing power and who gets squeezed. This article walks through three stocks exposed to the tariff shock, two potentially helped and one hurt.

Wacker Chemie (XTRA:WCH)

Wacker Chemie is a Munich based chemicals group that makes silicones, polymers, biotech products and hyperpure polysilicon used in solar panels and advanced chips. Its largest revenue contributors are Silicones at about €2.7b and Polymers at about €1.4b, with Polysilicon adding roughly €0.9b and Biosolutions about €380 million. The company is valued at around €4.8b in the market.

Wacker Chemie sits at the crossroads of solar, semiconductors and specialty chemicals, which has become more relevant as the new 15% US tariff pushes Chinese polysilicon suppliers onto the back foot and gives its Tennessee plant a clearer opening. The stock combines exposure to AI related semiconductor polysilicon demand and renewable energy materials with a cost cutting program that has already helped move results back into profit. Yet it still trades on modest sales multiples. The catch is that Wacker Chemie is coming off a period of losses, carries higher funding risk and remains exposed to policy swings such as future US trade decisions. The key question is how much of this tariff tailwind and earnings reset is already reflected in the price.

Wacker Chemie’s tariff-boosted polysilicon story looks underappreciated for a €4.8b group that still sits on modest sales multiples. Get a clearer view of what the market might be missing with the analysis report for Wacker Chemie

Build your own tariff winners shortlist

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LONGi Green Energy Technology (SHSE:601012)

LONGi Green Energy Technology is a major Chinese solar equipment company that produces monocrystalline silicon wafers, high efficiency solar modules and green hydrogen equipment for projects in China, Europe, the Asia Pacific and the US. Its products range from Hi-MO solar modules used in large utility projects to building integrated solar solutions for rooftops and facades. The stock is a large player in the sector with a market value of about CN¥97.7b.

LONGi Green Energy Technology sits at the sharp end of the new US polysilicon tariff because it relies on competitive access to the US market for its wafers and modules. The stock screens cheaply on metrics like a P/S of 1.4x. Analysts see strong earnings growth potential ahead, yet the business is still loss making with return on equity recently around 13.57% in decline. The balance sheet is funded by higher risk external borrowing, and the company is pushing record cell efficiencies and high profile partnerships, but with rising policy and funding risk that could matter more than the headline growth story.

LONGi Green Energy Technology’s tariff risk, relatively low price-to-sales ratio of 1.4x, and declining 13.57% return on equity raise the question of what the market is pricing in and what it is missing. Get the full context in the analysis report for LONGi Green Energy Technology

SunPower (SPWR)

SunPower focuses on selling and installing residential solar and storage systems across the US through its Residential Solar Installation, New Homes Business and dealer network segments. It currently generates about $156 million from Residential Solar Installation and $97 million from New Homes, with a $41 million segment adjustment, all from US customers. The stock is small in market terms with a market value of roughly $44 million.

SunPower sits in a sweet spot for the new polysilicon tariffs because it installs high efficiency systems in US homes and leans on non Chinese panel partnerships. Higher costs for imported rivals can help its premium offer compete on a more level field. At the same time, this is a highly stretched balance sheet with negative equity, recent dilution and a Nasdaq minimum bid warning. Management targets breakeven at around $76 million in quarterly revenue and expects a sharply smaller Q3 2026 operating loss. For investors looking at a tariff beneficiary that also carries meaningful execution and financing risk, SunPower is where those forces meet most clearly.

Tariff-boosted potential on one side and a stretched balance sheet on the other make SunPower hard to ignore. Get the fuller risk reward picture in the 1 key reward and 4 important warning signs (3 are major!)

Seeking Alternatives Before The Crowd

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.