{"id":23485,"date":"2023-06-16T11:15:12","date_gmt":"2023-06-16T15:15:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/micron-warns-of-revenue-hit-from-china-chip-ban-the-stock-is-falling\/"},"modified":"2023-06-16T11:15:14","modified_gmt":"2023-06-16T15:15:14","slug":"micron-warns-of-revenue-hit-from-china-chip-ban-the-stock-is-falling","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=23485","title":{"rendered":"Micron Warns of Revenue Hit From China Chip Ban. The Stock Is Falling."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000672528\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Micron Technology<br \/>\n       warned Friday that around half of its China customer revenue could be impacted by a partial ban on the U.S. chip maker selling to some Chinese companies. The stock fell more than 2% in early trading.<\/p>\n<p>\n        Micron<br \/>\n       (ticker: MU) said around a quarter of its worldwide revenue comes from companies based in mainland China and Hong Kong, adding that the ban puts a low-double-digit percentage of its global revenue at risk.<\/p>\n<div class=\"paywall\">\n<p>The company reiterated its commitment to China earlier Friday, announcing plans to invest 4.3 billion yuan ($605 million) in its Xi\u2019an plant despite the ban.<\/p>\n<p>The company said it will use the investment to acquire packaging equipment from Xi\u2019an-based Licheng Semiconductor and build a new facility in its factory, in a post on Chinese social media platform<br \/>\n        WeChat<span>.<\/span><br \/>\n       The stock rose close to 3% ahead of the open Friday.<\/p>\n<p>Less than a month ago, China\u2019s Cyberspace Administration banned companies involved in critical information systems from buying chips from Micron, saying they pose a \u201cmajor security risk.\u201d<\/p>\n<p>Micron did not directly refer to the partial ban when it announced the investment.<\/p>\n<p>\u201cThis investment project demonstrates Micron\u2019s unwavering commitment to its China business and its China team members,\u201d CEO Sanjay Mehrotra said in a statement on WeChat, seen by <em>Barron\u2019s<\/em>.<\/p>\n<p>It will also allow Micron to directly operate its packaging and testing business in Xi\u2019an, the company added.<\/p>\n<p>\u201cWe are pleased to be able to move forward with this important project. After the completion of the new plant, we will gradually introduce new equipment and processes in Xi\u2019an,\u201d Micron\u2019s China general manager Wu Mingxia said.<\/p>\n<p><em>Barron\u2019s<\/em>\u00a0has reached out to Micron for additional comment.<\/p>\n<p>Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/micron-commits-china-chip-ban-stock-price-ce2e6ba7?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Micron Technology warned Friday that around half of its China customer revenue could be impacted by a partial ban on the U.S. chip maker selling to some Chinese companies. The stock fell more than 2% in early trading. Micron (ticker: MU) said around a quarter of its worldwide revenue comes from companies based in mainland [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-23485","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Micron Warns of Revenue Hit From China Chip Ban. The Stock Is Falling. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Micron Technology warned Friday that around half of its China customer revenue could be impacted by a partial ban on the U.S. chip maker selling to some\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=23485\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Micron Warns of Revenue Hit From China Chip Ban. 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