'U.S. Senators To Seek Xi Meeting, Discuss Micron On China Visit; Schumer, Crapo Eyeing China Trip The Second Week Of October; New York, Idaho Senators To Raise Micron's China-Access Issues' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
A bipartisan group of US senators, including Senate Majority Leader Chuck Schumer and Senator Mike Crapo, plan to visit China and discuss Micron Technology Corp.'s business issues in the country. Micron faces an ongoing probe by the Chinese government's cybersecurity administration.
October 02, 2023 | 7:56 pm
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Micron Technology Corp. is facing regulatory scrutiny in China, which could impact its ability to do business in the country. This issue will be raised by US senators during their visit to China.
Micron's business operations in China are under scrutiny by the Chinese government's cybersecurity administration. This regulatory issue could potentially impact Micron's ability to operate in China, which could negatively affect its revenues and profitability. The upcoming discussion by US senators could bring more attention to this issue, potentially leading to increased volatility in Micron's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100