Micron Technology, Inc. (MU) to Stop Supplying Server Chips in China as Recovery Stalls

Micron Technology Inc. (NASDAQ:MU) is one of the best stocks to invest in, according to billionaire D.E. Shaw. On October 17, reports emerged indicating that Micron Technology Inc. (NASDAQ:MU) plans to stop supplying server chips to data centers in China.

The decision was reached after the company failed to recover following the Chinese government’s 2023 ban on its products. Micron was the first to come under pressure from Beijing in response to Washington’s curbs aimed at impeding growth in the Chinese tech industry. Following the ban, the company failed to capitalize on the country’s robust data center expansion.

Amid the planned exit, Micron will continue selling its chips to Chinese customers with significant operations outside the country. It will also continue to sell chips to customers in the automotive and mobile phone sectors in China.

Micron Technology, Inc. (NASDAQ:MU) is a global leader in the semiconductor industry, primarily known for manufacturing memory and storage solutions like DRAM and NAND flash SSDs. These components are essential for devices such as smartphones, PCs, data centers, and automotive systems. Micron’s products enable various technologies, including artificial intelligence, 5G, and the Internet of Things (IoT).

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Disclosure: None. This article is originally published at Insider Monkey.