Micron predicts revenue hit from China's ban
Edited By WION Video Desk
Published: May 23, 2023, 04:20 IST | Updated: May 23, 2023, 04:20 IST
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.
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