MU - Why did Micron stock fall 4% Friday? China's review of the chipmaker

2023-03-31 17:28:25 ET

• Micron Technology ( NASDAQ: MU ) shares fell more than 4% Friday as cybersecurity officials in China began a review of some of the memory chipmaker's products.
• The Cyberspace Administration of China said it had launched a review of Micron ( MU ) products that are sold in the country. Among the issues the Chinese officials are reviewing are information infrastructure and hidden security risks involving China's massive technology supply chain operations.
• The move comes in the wake of recent U.S. actions that include clamping down on the selling of certain semiconductor technologies on the grounds that China could use those products for corporate or governmental espionage against the U.S.
• Micron ( MU ) reported fiscal second-quarter results on Tuesday that showed revenue declining from a year ago .

For further details see: