Micron Technology is struggling to maintain momentum above the $1,000 mark. The memory-chip company's shares were slipping early Wednesday amid a wider slump in the semiconductor sector and a strike threat in Taiwan.
Micron shares were down 2.8% at $1,016 in premarket trading. The move was broadly in line with the wider chip sector with American depositary receipts of South Korean peer SK Hynix falling 1.4%.
However, Micron looked to be facing a bit of extra pressure after the company's union at its Taoyuan chip plant in Taiwan secured authorization from its members to strike, according to a Reuters report Wednesday. Union members cast 99% of votes in favor of potential strike action, although the details of any stoppage of work are still under discussion.
Micron didn't immediately respond to a request for comment early Wednesday. In a previous statement on the strike threat in late September, a Micron spokesperson said the company was committed to constructive dialogue with the Taoyuan union.
Micron recently announced pay deals for its Taiwanese production workers amounting to between 35 and 68 months' worth of base salary for the fiscal 2026 year.
However, Micron's Taiwanese unions have been pushing to scrap the existing incentive scheme and replace it with a plan allocating 15% of operating profit to bonuses. The Taoyuan union previously claimed Micron has declined to discuss such a plan. Micron said a mediation session concluded without settlement after the Taoyuan union raised an additional one-time bonus request.
Although it's an American company, much of Micron's manufacturing happens in Taiwan. The company announced in January that it had signed a letter of intent to buy another Taiwanese chip-making facility for $1.8 billion.
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