[DEVELOPING] Memory stocks extend weekly slide as CXMT reports roughly $20B nine-month profit; Micron dips below $1T
On Oct 16 Micron fell 5.63% to $878.84 (about $994B market value), SK Hynix fell 6.58% and SanDisk fell 6.85% (24/7 Wall St.). TradingKey puts weekly declines near 13–18%. The same day, China's CXMT filed preliminary January–September net profit of 131–132.5B yuan, and its shares rose 3.28%. The cited drivers were concern that CXMT's 4F² DRAM progress could ease supply tightness, plus the broader chip selloff. Goldman (via TradingKey) says the market has overestimated the technological impact, while KeyBanc expects Q4 DRAM contract prices to rise 15–20% from the prior quarter. Next to watch: 2027 memory contract pricing and confirmation of CXMT's server-DRAM timeline.