Why Are Micron Shares Trading Lower Today?

Micron Technology, Inc MU shares declined Friday morning over reports of China launching a cybersecurity review of its products.
China launched a cybersecurity review of Micron's export products to ensure the security of its information infrastructure supply chain, prevent network security risks and maintain national security, Bloomberg reports.
China's move will further escalate its tensions with the U.S. after it issued an embargo on the Asian counterpart over its access to cutting-edge semiconductor technology. The U.S. has also been canvassing its global allies to join its efforts.
U.S. sanctions proved a disaster for top Chinese chipmaker Huawei Technologies Co and could now weigh on ByteDance's popular app TikTok.
China's probe could jeopardize Micron's potential comeback after a rough stretch due to a steep drop in consumer demand that spurred Micron's customers to slash orders.
In its Q2 report earlier this week, Micron issued a forecast for Q3 revenue of $3.7 billion, plus or minus $200 million, versus estimates of $3.7 billion.
Price Action: MU shares traded lower by 3.41% at $60.94 on the last check Friday.

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