Governments worldwide are banning the use of foreign hardware in critical infrastructure over national security fears. In May, China announced that domestic infrastructure operators would no longer be allowed to acquire computer chips or components from American semiconductor company Micron Technology, due to “serious network security risks”. This prompted the US commerce department to say China’s decision had “no basis in fact” and was “inconsistent with [its] assertions that it is opening its markets and is committed to a transparent regulatory framework”.
Micron (MU) closed the most recent trading day at $69.68, moving -1.46% from the previous trading session.
The average brokerage recommendation (ABR) for Micron (MU) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?