Micron slips after it says half of China revenue at risk
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Micron Technology (NASDAQ:MU) shares fell more than 2.5% on Friday after the company said that approximately half of its revenue from China is at risk of being lost.
"As previously disclosed, Micronâs revenue with companies headquartered in mainland China and Hong Kong, including direct sales as well as indirect sales through distributors, is approximately a quarter of Micronâs worldwide revenue and remains the principal exposure," Micron said in an 8-K filing, referencing the ongoing review by China's Cybersecurity Administration over its products in the country.

"We now believe that approximately half of that China HQ customer revenue, which equates to a low-double-digit percentage of Micronâs worldwide revenue, is now at risk of being impacted."
Micron added it is working to mitigate the impacts over time and "expects increased quarter-to-quarter revenue variability."
Last month, the Chinese government said it found Micron Technology's (MU) products have "relatively serious" potential network securities issues and warned operators of critical information infrastructure to stop purchasing the goods.
The Chinese government said in April that it would launch a cyber security review on the memory chip company.

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