Micron Shares Fall Further as Chinese Rival CXMT Reports Progress on Denser DRAM Design

Shares of Micron Technology Inc. traded near $938 on Tuesday, down about 5 percent, extending a decline that began Monday after China's ChangXin Memory Technologies reported progress on a next-generation DRAM architecture.

The stock closed Monday at $989.04, down 3.9 percent, its first close below $1,000 since mid-September. It has fallen from a June all-time high of about $1,255. South Korean memory makers SK Hynix and Samsung Electronics also declined sharply in Seoul trading.

CXMT, China's largest DRAM producer, said it had made "key progress" on a 4F-square cell architecture intended to increase storage density, according to the South China Morning Post. The company plans to introduce a server-memory product based on the design later this year. CXMT is generally viewed as trailing Micron, Samsung and SK Hynix by one or more technology generations, but the announcement renewed investor concern about future competition and pricing pressure in the memory market.

Phillip Wool of Rayliant Global Advisors said CXMT has yet to demonstrate large-scale production of the new design and that Korean and U.S. makers still dominate high-bandwidth memory for AI applications. "I read that more as a sign of how vulnerable AI sentiment is at this moment," he said.

Micron reported strong fiscal 2026 results earlier, with revenue rising sharply on AI-related demand for DRAM and NAND. In September the company forecast first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, and noted that customer commitments under long-term supply agreements had increased to $32 billion. The company is expanding manufacturing capacity in the United States with support from the CHIPS Act.

No company statement addressed the share-price movement on Tuesday. Micron remains up substantially year-to-date despite the recent pullback, and most analysts maintain a Strong Buy rating. The decline tracked broader weakness in AI-related and memory stocks amid questions about competition and the durability of elevated pricing.