Micron Drops in War Over Silicon
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 22 May 2023
⏱️ 9 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Monday, May 22nd, and I'm your host Julie Morgan. |
| 0:12.0 | China says Micron products failed its cyber security review. |
| 0:16.2 | Micron is down 6% pre-market. |
| 0:19.4 | Volvo sets a record order for electric trucks. |
| 0:23.4 | The company is selling a thousand trucks to wholesome. |
| 0:26.8 | Farfetch is in our day watch. |
| 0:28.9 | The stock closed up more than 14% Friday |
| 0:32.0 | and is up 1.4% pre-market. |
| 0:35.0 | Remember as we get into the show, |
| 0:36.8 | you can always find the links to the stories |
| 0:38.8 | we talk about in show notes and our daily Seeking alpha Wall Street breakfast articles. |
| 0:44.6 | Our top stories. |
| 0:47.4 | Shares of Micron are down 6% in pre-market trading after China banned the company's |
| 0:52.3 | products from its critical infrastructure supply chain following a nearly two month review |
| 0:57.3 | While Micron is the biggest memory chipmaker in the US with more than a quarter of its sales going to China. |
| 1:03.6 | Other semiconductor players like Intel and Broadcom will also be in focus. |
| 1:08.8 | China said it found that Micron Technologies products have relatively serious potential network securities issues. |
| 1:16.6 | China warned that operators of critical information infrastructure should stop purchasing the goods. |
| 1:23.1 | China's cyberspace administration, which announced a review of Micron in late March, |
| 1:28.0 | announced its findings in a statement on Sunday. |
| 1:31.4 | Micron also released a statement saying it's evaluating China's conclusions and assessing its next steps. |
... |
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