Micron predicts a hit to revenues from China's decision to ban the sale of its products to critical Chinese businesses. Where the US chipmaker got nearly 11% of its revenue from mainland China in its last fiscal year reports suggest that this is a fallout from the latest Sino-American trade dispute. Shares of Micron dropped as much as five percent that's the highest in over seven weeks and falls by 30% this year.

Micron predicts revenue hit from China's ban

China's Cyberspace Administration said that Micron's products pose significant network security risks, citing concerns for China's critical information infrastructure supply chain and national security. As a result, operators of key infrastructure will be barred from purchasing Micron's products. This decision comes amidst the ongoing dispute over chip technology between the United States and China, adding fuel to the already simmering tensions.

Micron fails China's security check

China's Cyberspace Administration (CAC) has made an announcement that it conducted a network security review on Micron Technology a US-based memory chip maker and found that Micron's products failed to meet the required standards. As a result the CAC stated that the operators of key infrastructure would be prohibited from buying from the company now.

US-based Micron products are under fire in China over security concerns