Micron's Stock Dips as Server Chip Sales to China's Data Centers Halt

Micron Technologys stock dropped 4% after the company announced a halt in server chip sales to Chinas data centers, a response to Beijings 2023 product ban.

• Micron Technology plans to cease server chip sales to data centers in China, causing a 4% decline in its stock on October 17, 2023.
• The halt follows Beijings 2023 ban on Micron Technology products in critical infrastructure, raising concerns among investors regarding future sales.
• Despite the sales suspension, Micron Technology will continue supplying chips to two major customers in China, including Lenovo, which operates significant data centers.