Micron Technology Aktie News

Micron Technology Inc (NASDAQ:MU) plans to halt sales of its server memory chips to data centres in mainland China, according to Reuters, marking a retreat from a market that once accounted for 12% of its global revenue. The move follows a 2023 Chinese government ban on the company's products for use in critical infrastructure, which has crippled its local business.

Micron plans to stop supplying server chips to data centres in China after the business failed to recover from a 2023 government ban on its products in critical Chinese infrastructure, two people briefed on the decision said.

Reports of elevated loan losses from regional banks weighed on the sector, while expectations of AI-driven growth helped lift shares of companies in the data storage and memory chip businesses.

A new underground transmission line was approved by the New York State Public Service Commission linking an existing Clay substation with Micron Technology's proposed semiconductor megafab facility in Onondaga County, Governor Kathy Hochul announced on Thursday.

Growing demand for artificial intelligence and persistent shortages of memory and data storage solutions could mean bigger gains for providers of the hardware, according to Wall Street AI bulls.

UBS analysts have boosted their price target on ‘Buy'-rated Micron Technology Inc (NASDAQ:MU) to $245 from $225, pointing to intensifying shortages in the memory market. Micron shares traded up 5.6% at about $203 on Thursday afternoon, having surged more than 140% in the year to date.

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Citi Research maintained a Buy rating on Micron while boosting its price target to $240 from $200.