Who's next? Micron stock drops after being swept up into the war over silicon
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Shares of Micron (NASDAQ:MU) are down over 6% in premarket trading after China banned the company's products from its "critical infrastructure supply chain" following a nearly two-month review.
While Micron (MU) is the biggest memory chipmaker in the U.S., with more than a quarter of its sales going to China, other semiconductor players like Intel (NASDAQ:INTC) and Broadcom (NASDAQ:AVGO) will also be in focus amid an opening of a new chapter in the war over silicon.
Last summer saw the passing of the CHIPS ACT, which allowed the U.S. government to pour billions of dollars into the semiconductor sector to "lead the world in future industries and protect national security."
The Biden administration followed up on the measures with serious export controls to prevent American firms - or any global company that uses their tech - from selling chip designs, software and equipment to Beijing (it also prohibited U.S. nationals from working with Chinese chip companies to slow their technological advances).
SA commentary: "There is a geo risk that popped up in micron this year which before was pretty low," wrote
superartus last month, in response to SA article, Micron: Time To Buy, Sell Or Hold? "We'll see what China does as the administration is pushing its war on chips with China... Maybe a nothing burger but good to watch."
More on the China tech war:

Chinese probe into Micron seen as 'major concern,' US lobbying group says
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