GM
General Motors Company
stock NYSE

**TL;DR: 500 US-listed companies of the 2600 odd I track have direct Middle East exposure through subsidiaries, facilities, or supply chains. Zero have subsidiaries in Iran. Israel has 224 companies with 396 subsidiaries mostly tech. Saudi Arabia and UAE are packed with everyone from defense contractors to Krispy Kreme.**
---
## The Method
I extracted subsidiary lists, facility disclosures, supplier relationships, and geographic segments from 10-K and 10-Q filings (Exhibit 21, Item 2, risk factors) from 2600 odd companies. This isn't "revenue by region" estimates these are actual legal entities registered in these countries, disclosed to the SEC.
---
## Iran:
**Zero companies have subsidiaries in Iran.** Out of 234,000+ subsidiary records across 2,600 companies, not a single one is incorporated in Iran. Sanctions are working at least on paper.
The only connection I found: **LivaNova (LIVN)** discloses supply chain links to "non-governmental organizations in Iran" in their filings. That's it. One company. One indirect link.
**What this means:** Direct asset seizure risk from an Iran conflict is essentially zero for US equities. The risk is indirect oil prices, shipping lanes, regional contagion.
---
## Israel: 224 Companies, 396 Subsidiaries The Tech Dependency Most even in media miss
Israel is the second most exposed country after UAE. Here's what surprised me: it's not just "Israeli companies listed in the US." These are subsidiaries of major American corporations.
**Big Tech's Israel R&D footprint:**
| Ticker | Company | Israel Subsidiaries |
|--------|---------|-------------------|
| INTC | Intel | Intel Electronics Ltd., Hampton Acquisition Ltd, Intel Israel (74) Limited + 1 more |
| NVDA | NVIDIA | Mellanox Technologies, Ltd |
| MRVL | Marvell | Marvell Israel (M.I.S.L) Ltd. + leased facilities |
| AMAT | Applied Materials | Applied Materials Israel Ltd., Sage Design Automation |
| LRCX | Lam Research | Lam Research (Israel) Ltd., Lam Research Services Ltd. |
| KLAC | KLA Corp | 7 Israeli subsidiaries including Frontline P.C.B. Solutions |
| TXN | Texas Instruments | Texas Instruments Israel Ltd. |
| CDNS | Cadence | Cadence Design (Israel) II, Cadence Design Systems (Israel) |
| NXPI | NXP Semiconductors | NXP Israel Ltd. |
| MCHP | Microchip Tech | 3 Israeli subsidiaries |
That's the backbone of the US semiconductor supply chain with physical operations in a country at war.
**Cybersecurity almost the entire sector:**
| Ticker | Company | Israel Entity |
|--------|---------|--------------|
| CRWD | CrowdStrike | Flow Security Ltd., CrowdStrike Israel R&D Ltd., Bionic Stork Ltd. |
| PANW | Palo Alto Networks | Athens Strategies Ltd., Palo Alto Networks (Israel Services) |
| S | SentinelOne | Sentinel Labs Israel Ltd |
| FTNT | Fortinet | Fortinet Security Israel Ltd. |
| ZS | Zscaler | Avalor Technologies LTD, Zscaler Israel LTD |
| TENB | Tenable | Ermetic Ltd., Eureka Security Ltd., Tenable Israel Ltd. + 1 more |
| OKTA | Okta | Spera Cybersecurity Ltd. |
| RPD | Rapid7 | IntSights Cyber Intelligence Ltd. |
| VRNS | Varonis | Varonis Systems Ltd. |
The US cybersecurity industry's R&D is disproportionately located in an active conflict zone. If you're long cybersecurity ETFs, you have Israel exposure whether you know it or not.
**Other names that surprised me:**
- **ISRG** (Intuitive Surgical) Intuitive Surgical Israel Ltd., Orpheus Medical Ltd.
- **PLTR** (Palantir) Palantir Engineering Israel Ltd.
- **CRM** (Salesforce) 5 Israeli subsidiaries including ClickSoftware and Datorama
- **SNOW** (Snowflake) Snowflake Cloudtech Israel Ltd.
- **U** (Unity) ironSource Ltd., ironSource Mobile Ltd.
- **DKNG** (DraftKings) Gaming Tech Ltd., Blue Ribbon Software Ltd.
- **NYT** (NY Times) The Herald Tribune - Ha'aretz Partnership
Total Israel exposure: **224 companies, 396 subsidiaries, plus 5 companies with physical facilities.**
---
## Iraq: 10 Companies Still Operating
These are the companies with actual legal entities in Iraq right now:
| Ticker | Company | Iraq Subsidiary |
|--------|---------|----------------|
| KBR | KBR Inc. | KBR Abr al Bihar General Services |
| LHX | L3Harris Technologies | Sunshine General Services, LLC |
| AMTM | Amentum Holdings | Worldwide For General Services |
| ABM | ABM Industries | Wassl Al-Iraq Project Services |
| AIR | AAR Corp | Wide Open Sky General Trading |
| AON | Aon plc | Aon Bahrain W.L.L. (Iraq Branch) |
| PTEN | Patterson-UTI Energy | Ulterra Drilling Technologies (Iraq Branch) |
| TT | Trane Technologies | Imteaz Alroaa Company |
| TTI | TETRA Technologies | Well TETRA for Oil Services LLC |
| VSAT | Viasat | Shabakat Rafedain AI Iraq |
Mostly defense contractors and oilfield services. These are the first names that get affected if Iraq gets pulled into a wider conflict.
---
## Saudi Arabia & UAE: The Full List Is Massive
**Saudi Arabia: 149 companies, 203 subsidiaries.** Everyone from defense contractors to fast food:
Notable names:
| Sector | Companies |
|--------|-----------|
| Defense/Gov | BAH (Booz Allen), GD (General Dynamics), KBR, LHX (L3Harris), KTOS (Kratos), PSN (Parsons), VVX (V2X) |
| Oil & Gas | XOM (ExxonMobil), NOV, HAL -> Saudi Aramco, NBR -> Saudi Aramco, RIG (Transocean), WFRD (Weatherford), HP (H&P) |
| Tech | DELL, CSCO (Cisco), IBM, NOW (ServiceNow), PANW, SNOW, MSTR (MicroStrategy), SMCI (Super Micro), ZM (Zoom) |
| Pharma | LLY (Eli Lilly), PFE (Pfizer), BMY (Bristol Myers), VRTX (Vertex), MRK (Merck), BIIB (Biogen) |
| EV | LCID (Lucid) "Lucid LLC" in Saudi Arabia. PIF is their largest shareholder. |
| Food | TSN (Tyson) Supreme Foods Processing Co. |
**UAE: 239 companies, 360 subsidiaries the biggest footprint of any ME country.**
Some of the more unexpected ones:
- **WYNN** (Wynn Resorts) 11 UAE subsidiaries including Wynn Resorts FZ-LLC. They're building a casino resort on Al Marjan Island.
- **DNUT** (Krispy Kreme) Krispy Kreme Doughnuts DMCC
- **MGM** (MGM Resorts) 3 UAE entities
- **MARA** (Marathon Digital/Bitcoin miner) 4 UAE entities including ZTM Limited
- **GRPN** (Groupon) Groupon FZE
- **DOCN** (DigitalOcean) Cloudways FZ-LLC
- **WING** (Wingstop) Wingstop (Middle East) Managing Office Ltd.
- **PZZA** (Papa Johns) PJ EMEA DMCC
---
## Defense Contractors Operating in the Middle East
These are the companies that show up repeatedly across multiple ME countries with "operations" geographic segments:
| Ticker | Company | ME Countries with Subsidiaries | Geography Segments |
|--------|---------|-------------------------------|-------------------|
| BA | Boeing | | Middle East |
| LMT | Lockheed Martin | | Middle East |
| RTX | RTX Corp | | Middle East and North Africa |
| GD | General Dynamics | Egypt, Israel, Saudi Arabia, UAE | Other Africa Middle East |
| LHX | L3Harris | Iraq, Saudi Arabia, UAE | |
| KBR | KBR Inc. | Iraq, Oman, Saudi Arabia | Middle East |
| BAH | Booz Allen Hamilton | Bahrain, Egypt, Lebanon, Saudi, UAE | |
| PSN | Parsons Corp | Oman, Saudi Arabia, UAE | Middle East |
| VVX | V2X Inc. | Jordan, Oman, Saudi Arabia | Middle East |
| KTOS | Kratos Defense | Israel, Saudi Arabia | Middle East |
| HAL | Halliburton | (supplier to Saudi Aramco) | Middle East Asia |
| AMTM | Amentum Holdings | Egypt, Iraq | |
---
## Supply Chain Chokepoints
Companies that are *suppliers to* companies with heavy ME exposure:
| Supplier | Supplies To | ME Exposure Via |
|----------|------------|----------------|
| MSFT | 15+ companies | SNOW, PATH, DELL, BB, FTNT, MSTR, etc. all with Israel/Saudi/UAE subs |
| GOOGL | 12+ companies | Same cluster Snowflake, UiPath, SentinelOne, etc. |
| TSM (TSMC) | NVDA, ADI, FTNT, MBLY, INDI | All with Israel operations |
| AMAT | ADBE, DELL | Saudi and Israel subs |
| HON | 7+ companies | ABM, GT, IFF, CMC across Egypt, UAE, Saudi, Israel |
---
## Physical Facilities (Not Just Paper Entities)
These companies have disclosed physical buildings, not just holding companies:
| Ticker | Company | Where | Facility Type |
|--------|---------|-------|--------------|
| MRVL | Marvell | Israel | Significant leased facilities |
| SEDG | SolarEdge | Israel | Leased facilities |
| DXPE | DXP Enterprises | UAE + Saudi Arabia | Service center + fabrication |
| FDP | Fresh Del Monte | Jordan | 6 facilities: poultry farms, hatcheries, feed mill, slaughterhouse, meat processing, 25 acre greenhouse |
| PPIH | Perma Pipe | UAE + Egypt | Manufacturing facilities |
---
For anyone trying to trade around geopolitical risk:
1. **Direct Iran exposure is zero.** Stop worrying about asset seizures. The risk is oil price shock and Strait of Hormuz shipping disruption.
2. **Israel tech exposure is systemic.** If you're long semis or cybersecurity, you have Israel risk. INTC, NVDA (via Mellanox), CRWD, PANW, ZS, TENB all have R&D operations there. This isn't diversifiable within the sector.
3. **Iraq subsidiaries = first movers on escalation.** KBR, LHX, AMTM, VSAT watch these for early signals. If they start disclosing evacuation costs or impairments, things are getting real.
4. **Saudi Aramco is the supply chain hub.** HAL, NBR, INVX, ECVT, SMHI all have direct supplier relationships with Aramco. Aramco disruption cascades.
5. **UAE is the "safe" ME hub** 239 companies set up there specifically because it's stable. If UAE stability gets questioned, that's 360 subsidiaries worth of write-down risk.
6. **LCID is the pure-play Saudi bet.** PIF owns a huge chunk, and they have a subsidiary called "Lucid LLC" in Saudi Arabia. If US-Saudi relations deteriorate, Lucid is caught in the middle.
---
## Full Ticker List
Sorted alphabetically. Ctrl+F your holdings:
ABM, ACDC, ACGL, ACN, ADBE, ADEA, ADI, ADM, ADSK, AEIS, AGYS, AIG, AIOT, AIR, AJG, AKAM, ALLE, AMAT, AME, AMTM, AMWL, ANDE, ANF, ANGO, AON, AOS, APD, APG, APH, APPS, APTV, ARES, ARKO, ARQ, ARW, ATKR, ATMU, ATR, AVNT, AVNW, AVPT, AVT, AVTR, AVY, AXP, AYI, BA, BAC, BAH, BALL, BAX, BB, BCO, BDC, BDX, BELFA, BELFB, BEN, BG, BIIB, BIO, BLCO, BMI, BMY, BR, BRC, BRKR, BRO, BSX, BSY, BW, CALX, CARR, CBRE, CBT, CCK, CDNS, CECO, CEVA, CHEF, CHGG, CHRW, CI, CL, CLVT, CLX, CMC, CMCO, CME, CNXC, COHR, COO, COTY, COUR, CPAY, CPRI, CPRT, CRAI, CRM, CRNC, CRON, CRSR, CRWD, CSCO, CSGS, CTVA, CXM, DBD, DBX, DCI, DD, DDD, DE, DELL, DGX, DHR, DK, DKNG, DNA, DNUT, DOCN, DOCU, DOW, DRS, DUK, DV, DVA, DXC, DXPE, EA, EAF, ECL, EE, EEFT, EFX, ELAN, ELV, EMBC, EMN, EMR, ENR, ENS, ENTG, EOG, EPAC, EPC, ERII, ESAB, ESTC, ETN, EVC, EVCM, EVR, EXPD, EXTR, FA, FC, FCN, FDP, FDS, FDX, FFIV, FICO, FLEX, FLS, FLUT, FLYW, FN, FORR, FOUR, FRHC, FTAI, FTNT, FTRE, FTV, FUL, FWONA, FWONK, G, GAP, GBX, GD, GDDY, GEHC, GEV, GGG, GHM, GILD, GIS, GM, GNE, GNRC, GNTX, GPUS, GRPN, GSAT, GT, GTES, GTLB, GTLS, GTM, HAIN, HAL, HELE, HLF, HLIT, HLNE, HLT, HNI, HOG, HON, HP, HPE, HURN, IART, IBEX, IBM, IEX, IFF, IHRT, ILMN, INDI, INTC, INTU, INVX, IONQ, IOSP, IPAR, IQV, IR, ISPR, ISRG, IT, ITGR, ITRI, ITT, J, JBL, JBTM, JEF, JHG, JNJ, KBR, KFY, KHC, KLAC, KLIC, KLTR, KMB, KMT, KODK, KPTI, KTB, KTOS, KVUE, KWR, LAUR, LCID, LEA, LECO, LEVI, LHX, LITE, LIVN, LLY, LMT, LNG, LOGI, LRCX, LW, LYB, MA, MARA, MAS, MBLY, MC, MCHP, MCO, MDLZ, MDT, MEI, MGM, MHK, MIDD, MKC, MKL, MKSI, MLI, MLKN, MMS, MNST, MORN, MRK, MRVL, MSCI, MSI, MSTR, MTCH, MTRX, MTW, MWA, NATR, NBR, NDAQ, NDSN, NE, NEU, NOV, NOW, NSIT, NTAP, NTCT, NTRA, NTRS, NVCR, NVDA, NVRI, NVT, NWS, NWSA, NX, NXPI, NXT, NYT, OC, OGN, OKTA, OMC, OMCL, OPTU, OPY, OSIS, OSK, OTEX, OWL, PAHC, PANW, PATH, PAYO, PCOR, PEN, PEP, PFE, PFG, PG, PGY, PJT, PLTK, PLTR, PLUS, PM, PNR, POST, POWL, PPG, PPIH, PRAA, PRGO, PSN, PSTG, PTC, PTEN, PVH, PZZA, QDEL, QLYS, RBBN, RELL, REZI, RGA, RHI, RIG, RILY, RMNI, ROP, RPD, RPM, RS, RSVR, RTX, RYAN, S, SABR, SANM, SDOT, SDRL, SEDG, SEE, SF, SHW, SKIL, SLGN, SMCI, SMHI, SNA, SNDK, SNEX, SNOW, SOLV, SPGI, SPXC, STE, STEP, STGW, STX, SXC, SXT, SYK, TBCH, TDC, TDW, TDY, TEAD, TEL, TENB, TER, TEX, TFX, THR, TISI, TKO, TKR, TLRY, TMO, TNC, TRMB, TROX, TSN, TT, TTD, TTEC, TTI, TTMI, TTWO, TW, TWST, TXN, U, UCTT, UFPI, ULS, UP, VAL, VCYT, VECO, VEEV, VFC, VNT, VPG, VREX, VRNS, VRT, VRTX, VSAT, VSH, VTOL, VVX, VYX, WAB, WAT, WBD, WCC, WDAY, WDC, WFRD, WHR, WING, WKC, WLFC, WMG, WMS, WST, WTM, WTS, WTW, WU, WYNN, XOM, XPER, XRAY, XRX, XYL, YOU, YUM, ZBH, ZBRA, ZD, ZIP, ZM, ZS, ZTS
---
**Methodology:** Data extracted from SEC EDGAR filings (10-K, 10-Q Exhibit 21 subsidiary lists, Item 2 facilities, risk factors) for ~2,600 US-listed companies. Queried by country/jurisdiction fields matching 13 Middle Eastern countries plus variants. This captures legally disclosed entities there may be additional exposure through JVs, distribution agreements, or revenue streams not captured in subsidiary filings.
**Position:** No positions taken based on this analysis. Not financial advice.

You haven't really supported your claim of last in every category, and bed slope isn't a real issue. Range is important based on use case, but if you actually tow, for a living, I wouldn't buy an EV truck. They are all fine for taking the boat to the lake or picking up something from the landscape supply w/ a flatbed trailer. GM and Fords "infotainment" and general ownership experience are flat out abysmal. Rivian and Tesla are the only brands that get that right. The only two EV trucks I'd consider right now are the Rivian or the Cybertruck. The bed is a little small on the Rivian, but fine. The integrated tonneau cover on the CT is the best of the bunch and I'd argue better feature that it gets credit for. I think Ford, Chevy and Tesla all do "home back up" but the tesla version is by far the most cost effective (and it came foundation series trucks). Most of your claims just sound like internet bickering from a person who hasn't driven driven all of them, much less owned any of them.

Just some thought: Im honestly not even sure if $AMD will even appreciate at all even when the big earnings first come in (im talking about 2027 time frame). I think in 2027 $AMD will easily do 10eps+ which is inline with estimates at 10.88. However, I seriously think there is a real possibility the market is content with re rating $AMD to a 20 pe in 2027. I mean think of it, nvda is on its way to a 20 pe as we speak. What would stop $AMD from also tracking this same fate? I know technically $AMD will be growing faster on paper, but we have lower GM and dilution at certain price thresholds to get that.
In this case scenario, $AMD would need to hit their 20 EPS target before there is significant upside (400 p/s at 20pe), which might be 100% upside by late 2028 to 2030.. Which hey isnt bad but doesnt seem like a great risk reward? I think if we got a decently "fair" pe of 30 it would be attractive, but 20 just feels like crap. Thoughts?

The comparison to blockchain isn’t a discussion of POW, POS or other technical details. I’ve owned BTC and a Ledger before most of the folks here found it fashionable; 40 years in the software and semi industry I understand it. The argument is that NVDA is a one-trick pony; almost all of it’s revenue is from Compute & Networking, and almost all of that is simply a GPU and networking card. All in one single market. Compare that to the breadth of say GM – trucks to cars, financing, parts and service, international. All of NVDA’s business is precariously dependent on simply a GPU being used for AI. This was also the case at the beginning of BTC until ASICs took over, taking away their growth potential permanently.
But it gets worse if you dissect it further. A GPU is a simple piece of silicon to design. It’s a bunch of highly parallelized MAC engines – that’s it. Intel and AMD have also been making them a long time, and NVDA led the consumer market via gaming. But any company can whip out a GPU quite easily.
And the networking revenue? The majority of it is completely dependent on their AI/GPU business. It goes away if that business goes away.
What you are left with is that the largest company in the world by market cap is completely dependent on…a software layer - CUDA. That’s it. Anyone can build GPUs, anyone can build a rack architecture and connect them with NICs with their own protocol. (You called out NCCL and NVLS but those are simply protocols, they don’t change the discussion about dependency). Having all your revenue, all your profits, all your future based on just a layer of software is extremely risky and not a good business situation.
Your argument that a single layer of API software can’t be replaced, can’t be re-written, is contrary to the s/w industry. And there are almost unlimited resources to make that happen. Just in the U.S., just from 5 companies you have a capex spend of $700 BILLION. You have the world’s largest economies, China and India as examples, that can’t get product and are investing in alternatives as a matter of world economy leadership. Every computer science PhD is working on alternative ways to do AI. I’m not suggesting NVDA might away overnight. But nature abhors a vacuum and technology always finds a way. In the 1950’s you would have said it is completely impossible to bring a car to the moon and drive around, yet it happened.
And there are other real factors. For the first time Virginia, the largest data center hub due to its proximity to the backbone and regulation, has turned down a DC permit because of power concerns; even the White House has sided with consumers regarding power. And the monetization of AI is a complete unknown; it’s ironic that the majority of folks here wondering why the stock isn’t $300 don’t pay for any AI (using Gemini or ChatGPT for free).
In my 40 years of investing I’ve never seen a company post such incredible results and have the stock go down – because I can’t recall a company whose entire success was dependent on a single product. Professional money managers – not the yahoos here unable to objectively assess the business case - understand the risk this house of cards.
Finally at the end of the day the facts are in – NVDA has been left in the dust. This morning it’s back to it’s August level – half a year later. It’s not because of collusion, or the market is rigged, it’s because of the fragile nature of NVDA’s success.

Yes I remember years ago GM laying off people and they dragged the CEO to a congressional hearing for him to explain why he sucks at his job

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