Apple Chip Threat Sends Micron, SK Hynix Shares Slumping

Micron Shares and SK Hynix ADRs have slipped amid concerns over Apple's China chip threat. The news has weighed on the stocks of Micron, a leading US-based semiconductor manufacturer, and SK Hynix, South Korea's largest memory chip maker.

The companies' shares fell as investors worry about the potential impact of Apple's move to reduce its reliance on Taiwan's TSMC for chip production. Apple is said to be exploring alternative suppliers in China, which could hurt Micron and SK Hynix's business.

The decline in Micron's share price has been particularly significant, with the stock falling by 2% as of recent market data. SK Hynix ADRs have also taken a hit, slipping by 1.5% over the same period.