Micron Stock: Chinese CXMT nicknamed “Paper Tiger”

Investors in Micron Technology (MU) stock overreacted to news this week that Chinese company CXMT had made “key progress” on a new type of memory chip, a Wall Street analyst said. Rosenblatt Securities analyst Kevin Cassidy said the news, which caused a sell-off in memory chip stocks, was “exaggerated.” “The reaction overestimates the short-term competitive threat and overlooks the structural changes that are reshaping…