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Why Micron Stock Rose 2.64% Despite China’s Ban on Sales

Scarlett Ness
Why Micron Stock Rose 2.64% Despite China’s Ban on Sales

Micron Technology (MU) stock has been on a roller coaster ride since US-China trade tensions escalated. On Tuesday, July 3, the stock fell 5.5% after the announcement that a Chinese court has temporarily banned Micron’s chip sales in China in a patent infringement lawsuit. Micron estimates that the ban won’t hurt its quarterly revenue more than 1% of its annual sales, which brought a sigh of relief to Micron investors and was reflected in the stock price.