12:57 PM EDT, 04/03/2024 (MT Newswires) -- Micron Technology ( MU ) added over 3% in recent trading, rebounding from a modest stumble heading out the gate on Wednesday after the chip maker said it was still evaluating the impact of the powerful earthquake in Taiwan overnight on its operations and supply chain.

Taiwan is home to an estimated 60% of the world's semiconductor production, including up to 90% of the chips used in high-end applications and artificial intelligence. Global leader Taiwan Semiconductor Manufacturing Co ( TSM ) is responsible for a large slice of that work, but rivals Micron, United Microelectronics ( UMC ) , Intel ( INTC ) and Nvidia ( NVDA ) - along with a host of smaller firms - also have significant operations in Taiwan.

Micron Technology ( MU ) runs two of its nine principal facilities in Taiwan. Its foundry in Taichung is located on the island's western coast about 200 miles opposite of the epicenter of the 7.2-magnitude quake near Hualien on Taiwan's eastern coast. It also operates a facility in Taoyuan near Taipei on Taiwan's northern tip.

In a research note Wednesday, Wedbush analyst Matt Bryson said initial reports indicate most of Taiwan's chipmakers likely will avoid major disruptions. Micron's foundry in Taichung produces about 65% of its memory chips and suspended work immediately after the quake, he notes, while Taiwan Semi and United Micro similarly closed their doors for inspections.

"Net, we see minimal implications for semis unless news flow changes," Bryson wrote in his note. Memory chips potentially could see some short-term difficulties, he added, although that likely would be due more to supply chain issues rather than the earthquake itself.

In addition to a 3% advance recently for Micron Technology ( MU ), TMC and United Micro also were back on positive ground, climbing about 1% and 0.2%, respectively. Nvidia ( NVDA ), which buys semiconductor wafers from TMC and Samsung Electronic as well as memory chips from Micron, was narrowly lower, giving back its mid-morning gains.

Intel ( INTC ) was down more than 7%, although its retreat followed the company saying its foundry business ran a $7 billion operating loss in 2023.

Price: 126.72, Change: +3.96, Percent Change: +3.23