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Micron says China injunction to hurt Q4 sales by just 1%

Published 07/05/2018, 10:37 AM
© Reuters.  Micron says China injunction to hurt Q4 sales by just 1%
MU
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  • Micron (MU +1.5%) moves higher in early trading after saying the Chinese court's preliminary ruling to prohibit it from manufacturing, selling, or importing certain DRAM products in China consists of slightly more than 1% of the company's annual revenues.
  • MU continues to expect revenue to be within the previously guided range of $8B-$8.4B.
  • MU says it will comply with the ruling while requesting the Fuzhou court to reconsider or stay its decision; it maintains the court issued its ruling before allowing Micron an opportunity to present its defense.
  • Earlier: Micron bounces as analysts come out in support (July 5)
  • Now read: Micron: China Fears Are Overblown


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