CXMT Shares Drop 6.5% Despite Forecasting Up to $19.58 Billion 9-Month Profit
Updated
Updated · CNBC · Oct 19
CXMT Shares Drop 6.5% Despite Forecasting Up to $19.58 Billion 9-Month Profit
1 articles · Updated · CNBC · Oct 19
Summary
CXMT stock fell 6.5% on Monday, even after the Chinese memory-chip maker said it expects January-September net profit attributable to shareholders of 131 billion to 132.5 billion yuan.
265 billion to 270 billion yuan in revenue and the swing from a 5.28 billion yuan loss a year earlier reflect a dramatic earnings rebound.
AI-driven demand since the second half of 2025 has tightened global DRAM supply and lifted prices, which CXMT cited as the main driver of the turnaround.
10% of global DRAM revenue in the third quarter, up from 5% a year earlier, shows CXMT gaining share against Samsung Electronics, SK Hynix and Micron.