Micron estimates impact of China ban to be low to high single digits

Micron Technology, is speaking at a JPMorgan conference, estimated that the

• recent decision by China's Cyberspace Administration (CAC) could affect its total revenue by a low to high single-digit percentage.
• The company clarified that smartphones are not included in this projected impact.
• While the company continues to cooperate with the CAC and is seeking to understand the specifics of the situation, it stated that it remains uncertain about the security concerns being cited, as there have been no customer complaints about their product security.
• The company plans to provide an update on the situation during its earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term call in June.

Micron shares (MU) are trading at $65.59 down $2.58 or -3.78%.

Micron shares last week reached a high price of $68.59. That was the highest level since June 2022. The price also moved above the 38.2% retracement of the move down from its all-time high reached in January 2022. There retracement level came in at $67.55. The price decline this morning has taken the price back below that level. A ceiling area near $64.44 is the next key target. The price moved above that ceiling last Tuesday, and extended mainly on Thursday (see chart below).