Wedbush says ‘difficult to understand ramifications’ of China’s Micron review

After China’s Office of Cybersecurity Review announced it will implement a cybersecurity review of products sold by Micron in China, Wedbush analyst Matt Bryson said it is "difficult to understand the ramifications of this news given the lack of specifics in China’s statement." Chinese customers only represented around 10% of total sales to Micron the last two years, so the question of whether the review would affect sales to non-Chinese customers that involve Micron product going into China is "particularly important to understand," according to the firm. Without fully understanding what China’s investigation entails, it is still too early to "have a clear view on either direct ramifications for Micron or the broader U.S. technology complex," adds Wedbush, which has an Outperform rating and $65 price target on Micron shares.