US Chip Maker Micron Under Fire as China Launches Cybersecurity Probe
China has launched a cybersecurity probe into US chip maker Micron Technology, one of America's largest memory chip makers, in response to new restrictions on technology sales to Beijing.
The move comes amid growing tensions between the two countries over trade and technology. In recent weeks, US allies in Asia and Europe have announced curbs on the sale of key technology to China, citing national security concerns.
Micron said it was aware of the review and is cooperating fully with the Chinese authorities. The company's shares sank 4.4% on Wall Street following the news, marking the largest drop in over three months.
The probe by the Cyberspace Administration of China (CAC) will review Micron's products sold in the country, citing concerns about cybersecurity risks. Beijing has also criticized similar restrictions imposed by US and European countries, describing them as "unfair" measures.
China is seeking to boost its tech industry and attract foreign investment, but has been exerting pressure on foreign companies to bring them into line with its agenda. In recent months, Chinese authorities have suspended the operations of several international firms in Beijing, including Deloitte and a US corporate intelligence firm.
The move against Micron is seen as part of a broader effort by China to assert its influence over the global tech industry. The company's exposure to the Chinese market, which accounts for more than 10% of its revenue, has raised concerns among investors about potential risks.
China's actions are also seen as retaliation against US and European restrictions on technology sales to Beijing. The two countries have been locked in a trade war since 2020, with tensions escalating over issues such as intellectual property theft and national security concerns.
The move against Micron highlights the growing risks faced by foreign companies operating in China. As the Chinese government seeks to expand its influence over the global tech industry, international firms are facing increasing pressure to comply with Beijing's demands.
In response to the probe, Micron said it stands by the security of its products and is cooperating fully with the Chinese authorities. However, the company's shares have fallen sharply following the news, highlighting concerns about the potential risks faced by foreign companies in China.
China has launched a cybersecurity probe into US chip maker Micron Technology, one of America's largest memory chip makers, in response to new restrictions on technology sales to Beijing.
The move comes amid growing tensions between the two countries over trade and technology. In recent weeks, US allies in Asia and Europe have announced curbs on the sale of key technology to China, citing national security concerns.
Micron said it was aware of the review and is cooperating fully with the Chinese authorities. The company's shares sank 4.4% on Wall Street following the news, marking the largest drop in over three months.
The probe by the Cyberspace Administration of China (CAC) will review Micron's products sold in the country, citing concerns about cybersecurity risks. Beijing has also criticized similar restrictions imposed by US and European countries, describing them as "unfair" measures.
China is seeking to boost its tech industry and attract foreign investment, but has been exerting pressure on foreign companies to bring them into line with its agenda. In recent months, Chinese authorities have suspended the operations of several international firms in Beijing, including Deloitte and a US corporate intelligence firm.
The move against Micron is seen as part of a broader effort by China to assert its influence over the global tech industry. The company's exposure to the Chinese market, which accounts for more than 10% of its revenue, has raised concerns among investors about potential risks.
China's actions are also seen as retaliation against US and European restrictions on technology sales to Beijing. The two countries have been locked in a trade war since 2020, with tensions escalating over issues such as intellectual property theft and national security concerns.
The move against Micron highlights the growing risks faced by foreign companies operating in China. As the Chinese government seeks to expand its influence over the global tech industry, international firms are facing increasing pressure to comply with Beijing's demands.
In response to the probe, Micron said it stands by the security of its products and is cooperating fully with the Chinese authorities. However, the company's shares have fallen sharply following the news, highlighting concerns about the potential risks faced by foreign companies in China.
it's like they're trying to be the cool kid on the block but really they just come across as controlling and paranoid 
micron being probed doesn't surprise me though, china has been doing this for a while now and it's only getting worse. i feel bad for foreign companies that have to navigate all this red tape 
like what even is the point of having international relations if china is just gonna bully everyone into playing by their rules? 
Micron's not doing anything wrong here, just making chips for a living. Don't get me started on the whole trade war thing... 
Two countries can't just keep going back and forth like this forever. Some of these restrictions are starting to sound like a bad joke. 
like china's trying to strong-arm micron into playing by their rules or else they'll get hit with this cybersecurity probe... it's not fair on micron though 
they're just trying to do business as usual and invest in the chinese market. but at the same time, us & european countries need to be aware of the risks too 
china's been suspending international firms left & right, it's like they think they can get away with just being super aggressive 
but i guess that's not how the global trade game works 
china's trying to boost its tech industry and micron being probed is kinda like a test run for all foreign companies 
does anyone think this will lead to more restrictions on tech sales in china? 
i mean dont get me wrong china isnt exactly innocent here but its like theyre trying to flex their muscles and assert their influence over the global tech industry and us companies are just getting caught in the crossfire 
micron's shares tanking 4.4% yeah thats a big drop for them but lets be real this whole thing is like a game of chess with billion dollar stakes 
I'm totally freaking out right now 
Their products are so important for our tech and they're just going to scrutinize them like that? 
It's not fair at all! 
What if it affects their shares? 
That's like, a huge drop in the market and investors will be totally worried 
can't say i'm surprised though, these tensions have been brewing for ages 
those restrictions are getting stricter and micron is one of the big players affected 
. But at the same time, you gotta wonder if Micron is just going to cave in to Beijing's demands like our fave boyband NSYNC used to do 
.
. And what about the investors? They're getting all worried about Micron's shares tanking like my old PlayStation 3 
gotta keep an eye on how this all plays out
they're just trying to level the playing field a bit and get their own companies set up for success 
so fingers crossed for them! 
its like they're trying 2 cover their own tracks or smthn 
China launches a probe into Micron because they're all like "Hey, you're selling tech to us, so we're gonna check on you" and now Micron's stock is tanking 