President Donald Trump took a moment during his speech at the United Nations to mention Micron Technology (MU) - Get Report and its treatment by Chinese officials amid the trade war between the world's two largest economies.
Micron shares dropped nearly 2% after being mentioned by the president Tuesday. At last check, the stock was down 1.74% to $48.74.
Trump took China to task for not acting in good faith during negotiations and for stealing intellectual property from American technology companies, specifically Micron. Chinese officials are accused of stealing secrets from Micron in 2018.
Micron has said previously that Taiwanese chipmaker United Microelectronics (UMC) - Get Report of Taiwan worked with Chinese chipmaker Fujian Jinhua Integrated Circuit Co. to steal intellectual property.
A Chinese court temporarily barred Micron from selling 26 chip products in the mainland after ruling in favor of UMC in a patent infringement case.
The world's third-largest memory chipmaker is scheduled to report its fiscal fourth-quarter results after the closing bell Thursday. The company is expected to post adjusted earnings of 51 cents, down from the 80 cents expected before analysts adjusted their estimates.
Wall Street also expects revenue of $4.59 billion, which is down from the $4.91 billion that was forecast at the start of the quarter.
Micron shares have risen more than 54% year to date.