Re: "Company revenues for its Q3 ended 31 May were down a massive 38.6%"
To be fair, most of Micron's drop was due to prices dropping for DRAM and NAND which started before the whole China thing. If they listed those amounts in bytes the decline would be far smaller.
Trade between China and the US will be permanently impacted on both sides by this, with China finding alternative suppliers for farm products and ramping up efforts to make stuff like DRAM/NAND themselves (they already do, but at low volumes) and US companies moving at least some production out of China (but to other cheap countries like Vietnam, it isn't coming back to the US)
As I've said before, once this starts hurting the US economy badly enough Trump will be forced to cave. China will not blink, because they know Trump put himself over a barrel by starting the trade war when he has to face an election soon.
The fact both sides will permanently lose markets with each other is why trade wars are always a bad idea, unless the things being traded are not available elsewhere. Trump is simply too uneducated to know this. He'll be forced to cave, but will claim victory when things go back to the way they were, like he has for USMCA, his replacement for NAFTA which is almost identical to NAFTA in every way.