Market Chatter: Micron Technology Steps Up Lobbying for Broader China Chip Export Restrictions

MT Newswires Live04-22 20:48

Micron Technology (MU) is lobbying the US Congress to tighten export controls on semiconductor manufacturing equipment sold to Chinese chipmakers, Reuters reported Wednesday, citing people familiar with the matter.

The company backs the proposed "MATCH Act," which seeks to close export-control loopholes and restrict chipmaking equipment sales and servicing to firms including ChangXin Memory Technologies, Yangtze Memory Technologies and Semiconductor Manufacturing International, the report said.

The legislation would also pressure foreign equipment suppliers, including ASML (ASML), and aligns with broader US efforts to limit China's semiconductor development on national security grounds, the report said.

Micron Technology didn't immediately respond to a request for comment from MT Newswires.

Shares of Micron Technology were up 1.8% in recent Wednesday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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