Micron Technology Inc Says Working To Mitigate Impact Over Time And Expects Increased Quarter-To-quarter Revenue Variability; Now Believe About Half Of China HQ Customer Revenue Is Now At Risk Of Being Impacted
Portfolio Pulse from Benzinga Newsdesk
Micron Technology Inc. expects increased quarter-to-quarter revenue variability and believes about half of its China HQ customer revenue is at risk of being impacted. The company is working to mitigate the impact over time.
June 16, 2023 | 1:35 pm
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) may be indirectly impacted by Micron Technology's potential loss of China HQ customer revenue.
Although the news does not directly mention FXI, it is an ETF that tracks large-cap Chinese stocks. Micron Technology's potential loss of China HQ customer revenue could indirectly impact the performance of the ETF, as it may affect the overall sentiment towards Chinese stocks.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Micron Technology's stock may be negatively impacted in the short term due to increased revenue variability and potential loss of half of its China HQ customer revenue.
The news directly mentions Micron Technology and highlights the potential loss of a significant portion of its China HQ customer revenue. This could lead to increased revenue variability and negatively impact the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100