INSANE: Micron technology faces headwinds from china - The Real Truth

Micron Technology (MU), the largest U.S. maker of memory chips, is facing a new headwind from China just as the company is recovering from a demand slump. Micron Technology had rallied nearly +40% this year amid optimism the worst is over after memory chip inventories surged following a drop in sales of personal computers and other devices. However, these new restrictions in China threaten the company’s recovery.   

On Sunday, the Cyberspace Administration of China (CAC) warned operators of key Chinese infrastructure about buying chips from Micron Technology, saying it had found “relatively serious” cybersecurity risks in Micron products sold in the country.  The CAC said the components caused “significant security risks to our critical information infrastructure supply chain,” which could affect national security.  However, the U.S. Commerce Department said China’s conclusion had “no basis in fact” and was retaliation for the G-7 stance on limiting technology transfers to China.