It’s true that Singapore-based Broadcom’s purchase of Qualcomm after an aggressive, months-long pursuit would have been the biggest deal in tech history, even at a reduced price of $117 billion.

But the deal’s demise at the hands of a president who’s increasingly protective of U.S. industry isn’t a portent of doom for dealmaking in the sector. Quite the reverse, in fact, said Angelo Zino, an analyst with CFRA Research in New York.