China’s restrictions on Micron, criticized as political, cloud its recovery path

Just as Micron Technology investors were starting to glimpse the end of a painful demand slump, the Chinese government is making the recovery path murkier. The largest U.S. maker of memory chips had rallied nearly 40% this year amid optimism that the worst is over after supply cuts aimed at restoring equilibrium amid a drop in sales of personal computers and other devices. Now, restrictions in China threaten to throw a wrench into Micron’s recovery and potentially aid rivals such as South Korea’s SK Hynix. “There’s a lot of enthusiasm...