Micron rises as report says co plans to impose surcharge on some products

Shares of memory chipmaker Micron Technology MU.O rise 5.3% to $72

MU notifies its U.S. customers, which includes iPhone maker Apple AAPL.O, that it plans to impose a surcharge on some products from Wednesday to account for U.S. President Donald Trump's new tariffs, Reuters reports, citing four sources familiar with matter

Trump's tariff announcement last week applied to memory modules and solid-state drives but exempted semiconductors, which account for part of Micron's portfolio

Samsung Electronics 005930.KS, which competes with MU, said on Monday it sees Q1 operating profit of 6.6 trillion won ($4.49 billion), above analysts' estimate of a 5.1 trillion won, as looming tariffs spur memory chip sales and smartphone demand

Up to last close, MU stock had fallen ~19% YTD