- 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.
JP Morgan Downgrades Apollo Comml Real Est to Underweight, Lowers Price Target to $11
JP Morgan analyst Richard Shane downgrades Apollo Comml Real Est (NYSE:ARI) from Neutral to Underweight and lowers the price target from $12.5 to $11.
