Micron on the docket as US Senators head to China amid probe
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Micron Technology (NASDAQ:MU) is on the menu for several U.S. Senators as they prepare to potentially meet with Chinese President Xi Jinping.
The bipartisan group of lawmakers is heading to China next week and among other things will raise the issue of Micronâs ability to do business in the country, Bloomberg reported, citing Senator Mike Crapo.
China's probe of the Boise, Idaho-based tech company has been a major concern of the U.S., including the American Chamber of Commerce, the influential lobbying group.
Senate Majority Leader Chuck Schumer and his Republican colleague also plan to meet with the U.S. business community in Shanghai and discuss concerns about the investment climate for them.
âWe really believe that the more engagement we have, the more opportunity and potential there is to resolve conflict,â Crapo said in an interview with the news outlet. The meeting with Xi has not yet been confirmed.
The chipmaker has said previously the probe put half of its China sales at risk. In its fourth-quarter earnings announced last week, Micron (MU) said the Cybersecurity Administration of China decision that it failed a cybersecurity review was mostly impacting domestic data center and networking markets in the country.
âWe remain committed to serving our customers in China for those areas of their business not impacted by the CAC decision,â the company said in a presentation on September 27. âWhile there is near-term impact to our demand due to these challenges in China, we remain focused on maintaining Micron's global market share.â 
Commerce Secretary Gina Raimondo raised issues on behalf of Micron and other U.S. firms when she visited China in August.
Shares of Micron closed little changed on Monday and are up 35% year-to-date.

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