Micron Senses Trouble From China City Shutdown: Report
Micron Technology Inc (NASDAQ: MU) sees the output of some computer memory hit by the closing of the Chinese city of Xi'an aimed at containing the resurgence of the COVID-19, Bloomberg reports.
Micron uses a test and assembly facility located in Xi'an.
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Micron will likely meet most of its customer demand, but new supply arrangements may cause delays.
The report quoted Micron stating, "We are also working with local government officials to identify solutions that will enable us to minimize impact of the situation and maintain operations at the site safely."
"We are tapping our global supply chain, including our subcontractor partners, to help service our customers for these DRAM products."
Micron said it's taking "appropriate measures" to minimize the risk of the virus at the plant, including on-site testing, physical distancing, and temporarily reducing the "workforce density."
Price Action: MU shares traded lower by 0.64% at $95.55 in the premarket session on the last check Thursday.
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