After failing to recover from a 2023 government ban on its products in critical Chinese infrastructure, Micron (MU) intends to stop supplying its server chips to centers in China, Hyunjoo Jin and Brenda Goh of Reuters reports, citing two people briefed on the decision. Micron intends to continue to sell to two Chinese customers with data center operations outside China, the sources added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MU:
- Micron price target raised to $240 from $195 at Mizuho
- NVDA, AVGO, MU: Chip Stocks Gain on TSMC’s Rosy Outlook and New AI Deals
- Closing Bell Movers: CSX gains over 2% on earnings beat; OZK slips on miss
- Micron (MU) Gets Power Line Approval from New York for $100B Chip Factory
- Keep On Buying Micron Shares Due to ‘Unprecedented Demand,’ Says Citi