Micron Expertise, Inc (NASDAQ:MU) CEO Sanjay Mehrotra met with China’s Minister of Commerce, Wang Wentao, on March 23 to debate Micron’s future growth inside China.
In the course of the assembly, Wang Wentao expressed the Chinese language authorities’s assist for Micron, encouraging the corporate to deepen its operations and expedite new funding tasks within the nation.
Mehrotra outlined Micron’s ongoing enterprise endeavors and upcoming funding initiatives in China, committing to adjust to Chinese language legal guidelines and rules, Technode reviews.
Moreover, he introduced plans to boost Micron’s investments to cater to the wants of Chinese language customers extra successfully.
This assembly marks Mehrotra’s second go to to China in nearly six months, following an earlier dialogue on November 1, 2023, showcasing the continuing dialogue and Micron’s dedication to increasing its presence within the Chinese language market.
Latest reviews indicated that China had launched new tips to eradicate U.S. microprocessors from Intel Corp (NASDAQ:INTC) and Superior Micro Units, Inc (NASDAQ:AMD) in authorities computer systems and servers, favoring home know-how.
These procurement rules are a part of China’s effort to substitute international applied sciences with native improvements. They embrace plans to interchange Microsoft Corp’s (NASDAQ:MSFT) Home windows working system and international database software program with Chinese language alternate options.
In 2023, Chinese language chipmaker Yangtze Reminiscence Applied sciences Co initiated a lawsuit towards its American counterpart, Micron, accusing it of violating eight patents.
The lawsuit alleged that Micron was utilizing Yangtze Reminiscence Applied sciences’ patented know-how to keep up its aggressive edge and safe its market place with out adequately compensating for utilizing these patented innovations.
Micron, recognized for manufacturing DRAM and NAND flash reminiscence chips, competes with international giants reminiscent of South Korea’s Samsung Electronics Co, SK Hynix, and Japan’s Kioxia.
Micron inventory gained over 101% within the final 12 months. Traders can acquire publicity to the inventory through REX FANG & Innovation Fairness Premium Earnings ETF (NASDAQ:FEPI) and Invesco Semiconductors ETF (NYSE:PSI).
Mizuho analyst Vijay Rakesh reiterated Micron with a Purchase and raised the worth goal from $124 to $130.
Worth Motion: MU shares closed greater by 1.43% at $118.80 on the final verify Tuesday.
Disclaimer: This content material was partially produced with the assistance of AI instruments and was reviewed and revealed by Benzinga editors.
Photograph courtesy of Micron
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This text Micron’s Strategic Strikes in China, CEO Mehrotra’s Talks and Growth Plans Amid Shift from US Tech initially appeared on Benzinga.com
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