Micron stock declines after company says half of China revenue could be at risk due to ban on sales

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Micron Technology Inc. now expects that half of China-headquartered customer revenue is at risk of being impacted due to a previously disclosed review of the...

Micron Technology Inc. MU now expects that half of China-headquartered customer revenue is at risk of being impacted due to a previously disclosed review of the company’s business by Chinese authorities that prompted them to ban critical information infrastructure operators in the country from using Micron’s products. The new estimate equates to a low double-digit percentage of Micron’s worldwide revenue, the company said Friday in a filing with the Securities and Exchange Commission.

MU now expects that half of China-headquartered customer revenue is at risk of being impacted due to a previously disclosed review of the company’s business by Chinese authorities that prompted them to ban critical information infrastructure operators in the country from using Micron’s products. The new estimate equates to a low double-digit percentage of Micron’s worldwide revenue, the company said Friday in a filing with the Securities and Exchange Commission.

 

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