Micron Expertise, is talking at a JPMorgan convention, estimated that the
- latest choice by China’s Our on-line world Administration (CAC) might have an effect on its complete income by a low to excessive single-digit proportion.
- The corporate clarified that smartphones will not be included on this projected impression.
- Whereas the corporate continues to cooperate with the CAC and is looking for to know the specifics of the scenario, it acknowledged that it stays unsure concerning the safety issues being cited, as there have been no buyer complaints about their product safety.
- The corporate plans to supply an replace on the scenario throughout its earnings name in June.
Micron shares (MU) are buying and selling at $65.59 down $2.58 or -3.78%.
Micron shares final week reached a excessive worth of $68.59. That was the best degree since June 2022. The worth additionally moved above the 38.2% retracement of the transfer down from its all-time excessive reached in January 2022. There retracement degree got here in at $67.55. The worth decline this morning has taken the worth again under that degree. A ceiling space close to $64.44 is the following key goal. The worth moved above that ceiling final Tuesday, and prolonged primarily on Thursday (see chart under).