Micron Braces For Chip Testing Debut In India As Country Ratifies $2.7B Project
Portfolio Pulse from Anusuya Lahiri
The Indian government has approved Micron Technology's $2.7 billion plan for a new semiconductor testing and packaging unit in Gujarat, with production-linked incentives worth $1.34 billion. This comes as the White House urges US chip companies to invest in India to reduce business risks in China.
June 21, 2023 | 1:28 pm
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POSITIVE IMPACT
Micron Technology's $2.7 billion semiconductor testing and packaging unit in India has been approved by the Indian government, potentially reducing business risks in China.
The approval of Micron Technology's $2.7 billion plan for a new semiconductor testing and packaging unit in India is a positive development for the company. The Indian government's support, along with the White House's push for US chip companies to invest in India, could help Micron reduce its business risks in China. This is likely to have a positive short-term impact on Micron's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
FedEx Corp's CEO is set to meet with Indian PM Narendra Modi on June 22, but the company is not directly involved in Micron's semiconductor project.
Although FedEx Corp's CEO is scheduled to meet with Indian PM Narendra Modi on June 22, the company is not directly involved in Micron's semiconductor project. Therefore, the news is unlikely to have a short-term impact on FedEx's stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Mastercard Inc's CEO is set to meet with Indian PM Narendra Modi on June 22, but the company is not directly involved in Micron's semiconductor project.
Although Mastercard Inc's CEO is scheduled to meet with Indian PM Narendra Modi on June 22, the company is not directly involved in Micron's semiconductor project. Therefore, the news is unlikely to have a short-term impact on Mastercard's stock price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20