🔴 Micron Technology is trading 7.35% down today as Apple may source memory chips from China

Micron Technology is trading 7.35% down now at $186 after reports that Apple may purchase DRAM and NAND chips from China’s CXMT and YMTC.

• The move raises concerns about Micron’s market share in China.
• The Chinese suppliers’ ability to scale and meet Apple’s quality requirements remains uncertain.
• Semiconductor-sector weakness and pre-Nvidia earnings caution are adding pressure, with Micron underperforming the broader market.