Cybersecurity
Micron Drops After China Claims Its Chips Pose Security Risk
- China’s cyberspace agency probed the memory-chipmaker
- Move is retaliation for G-7 stance on China, US official says
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Micron Technology Inc.’s stock declined after China’s cyberspace regulator said that its products failed to pass a cybersecurity review, a move that jeopardized the company’s sales in a crucial market.
Beijing warned operators of key infrastructure against buying the company’s goods, saying it found “relatively serious” cybersecurity risks in Micron products sold in the country. The components caused “significant security risks to our critical information infrastructure supply chain,” which would affect national security, according to the statement from the Cyberspace Administration of China, or CAC.