- China’s cybersecurity review of Micron Technology, Inc (NASDAQ:MU) reportedly is not affecting its ability to deliver products.
- Micron’s product shipments, engineering, manufacturing, sales, and other functions are operating as usual, Bloomberg reports citing the company’s statement.
- China’s probe on the chipmaker fueled tensions between China and the U.S. triggered by the Western counterpart’s cutting-edge technology-related embargo on the Asian country.
- Also Read: U.S. Chips Act Mandates Contenders To Share Excess Profits With Country, Refrain From Buybacks And China
- China also filed a complaint with the World Trade Organization, arguing that the U.S. is undermining trade rules.
- On March 31, China launched a cybersecurity review of Micron’s export products to ensure the security of its information infrastructure supply chain, prevent network security risks and maintain national security.
- Price Action: MU shares closed lower by 1.21% at $59.61 on Monday.
Woodward Revises FY23 Outlook, Now Sees EPS From $3.15-$3.60 To $3.50-$3.75 Vs 3.18 Est.; Sales From $2.6B-$2.7B To $2.7B-$2.8B Vs $2.64B Est.
Fiscal Year 2023 OutlookWe continue to expect year-over-year improvements in the second half of fiscal 2023. Due to our better-than-expected results experienced in the second quarter as well as an anticipated lower
