CXMT, China's largest DRAM maker, reported third-quarter revenue up 613% year over year to about 118.7 billion yuan (roughly $18 billion), driven mainly by a global DRAM shortage that lifted both volumes and prices. Its gross margin of about 89.5% suggests memory prices remain high across the industry, though quarter-on-quarter revenue growth slowed to around 19%. CXMT is still roughly a third the size of Micron, and its global DRAM revenue share was 9.5% versus Micron's 23.3%, per TrendForce. The author sees Micron still benefiting from the shortage, but notes the risk that CXMT's large cash pile could fund capacity expansion, which Micron has warned could lead to oversupply. Micron trades at about 12 times fiscal 2026 earnings, and the author still favors the stock at current prices while suggesting building a position gradually, since memory prices can turn quickly.
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NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/30/2026 | 204.81 |
| Change that session | -4.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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