Micron Resumes Some Huawei Shipments Despite Trump Blacklist
- CEO says ‘subset’ of products comply with U.S. export rules
- Shares gain as chipmaker sees early signs of stronger demand
Micron Technology Inc. Double-Data-Rate Synchronous Random-Access Memory (SDRAM) chips
Photographer: Tomohiro Ohsumi/Bloomberg
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Micron Technology Inc., the largest U.S. maker of computer memory chips, said it resumed some shipments to China’s Huawei Technologies Co., appearing to find a way around an export ban that threatens growth for the semiconductor industry.
Micron, which explained the decision Tuesday as it reported earnings, studied the export restrictions and determined “a subset” of products it sells to Huawei are not subject to the rules, Chief Executive Officer Sanjay Mehrotra said on a conference call. That sent stock surging as much as 11% in extended trading.