Micron Eyes Massive Chip Expansion With Federal Funding Boost
Portfolio Pulse from Anusuya Lahiri
Micron Technology Inc (NASDAQ:MU) plans to expand memory chip production in Boise, Idaho, and Clay, New York, with the help of federal funding and tax credits. The company has applied for funds under the CHIPS Act, which aims to strengthen and diversify supply chains. Micron plans to invest $15 billion in its Idaho facility by 2032, creating 17,000 jobs. In New York, the company plans to invest up to $100 billion over the next two decades. However, the Cybersecurity Administration of China has labeled Micron as a cybersecurity threat, banning Chinese operators from purchasing from the company.
August 21, 2023 | 6:10 pm
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Micron's planned expansion and investment could boost its production capabilities and market position. However, the ban by China's Cybersecurity Administration could negatively impact the company's sales and reputation.
Micron's planned expansion and investment could significantly increase its production capabilities, potentially leading to increased sales and profits. However, the ban by China's Cybersecurity Administration could limit the company's market reach and negatively impact its sales. The net effect on the stock price is uncertain.
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