Micron falls; Reuters reports chipmaker to exit server chips business in China

Chipmaker Micron Technology's MU.O shares fall 2.8% to $196.97 premarket

Micron plans to stop supplying server chips to data centres in China after the business failed to recover from a 2023 government ban on its products in critical Chinese infrastructure, Reuters exclusively reports

Avg rating of 46 analysts is "buy," their median PT is $200 - data compiled by LSEG

Separately, Citigroup raises PT on stock to $240 from $200, an 18.5% upside to MU's last close

Up to last close, stock has more than doubled this year