Micron shares are trading lower after China's cyberspace regulator said the company's products had failed its network security review and said it would ban the company from key infrastructure projects.
Portfolio Pulse from Benzinga Newsdesk
Micron shares are trading lower after China's cyberspace regulator announced that the company's products failed its network security review, resulting in a ban from key infrastructure projects.
May 22, 2023 | 11:16 am
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Micron's stock price is negatively impacted by China's cyberspace regulator's decision to ban the company from key infrastructure projects due to a failed network security review.
Micron's products failing China's network security review and the subsequent ban from key infrastructure projects directly affects the company's potential revenue and growth in the Chinese market. This negative news is likely to cause a short-term decline in Micron's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100