If you checked on your Micron Technology (MU) holdings on Wednesday, you might have done a double-take.
After a strong prior session, the stock returned -8.0% while the broader S&P 500 returned +0.4%
The company hadn’t made a misstep. In fact, it’s the exact opposite, which makes the story here so compelling. What Is This New Chinese Threat?
The anxiety that hit the stock has a name and a number. News broke that a key Chinese competitor, ChangXin Memory Technologies (CXMT), is set to raise formidable funding in its Shanghai STAR Market listing. That funding round implies a market capitalization for the rival firm of $85.5 billion.