US allows Micron to work with Huawei again

After Microsoft, Micron is the next big company to receive licenses from US government to work with China's tech giant Huawei.

File photo: Huawei logo in a facility in China

Micron's stock rose by 4 percent after the announcement

A report from Reuters revealed that Micron has received all the licenses it requested to supply products to Huawei, its largest customer. It also said that it is a HUGE relief for the struggling chipmaker amid a slowing memory market.

The quick result of the news is the shares of Micron Technology, Inc. rose by 4 percent. 

We applied for, and recently received all requested licenses that enable us to provide support for certain products... as well as qualify new products for Huawei’s mobile and server businesses, the company said.

To recall, Micron is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives

Back in May, Trump administration placed Huawei on a so-called "Entity List" due to alleged "security concerns". It prevented US companies to supply products and work with Huawei.

As of writing, Huawei is the world's largest telecom equipment maker and the second biggest global smartphone maker.

Back in 2018, Huawei purchased USD 11 billion of American goods.

Now, after Micron, let's see who's the US company that will be allowed to work with Huawei again.

Google?

Source: Reuters