- CXMT's reported consideration of a second Beijing memory-chip plant renewed investor concern over Chinese memory-chip capacity and competition for Micron.
- Micron fell as much as 4.5% after the report, then erased its intraday losses and traded slightly higher.
- Micron shares remained roughly 30% below their late-June peak, underscoring sustained pressure on the stock.
Quotes
“there’s a “knee-jerk reaction” for investors to sell shares of Micron on any CXMT-related news”
“competitive threat”