The number that matters in CXMT's quarter is 19.3%, the sequential growth.
The number that matters in CXMT's quarter is 19.3%, the sequential growth. Everyone is quoting 613% year over year, but quarter on quarter China's memory champ grew far more modestly, which makes the cheap-Chinese-supply panic look like a convenient story for a selloff that has more than one driver.
- Reuters reports CXMT's Q3 revenue at 118.71 billion yuan, up 613.2% YoY and up 19.3% sequentially, and credits AI-driven demand and higher memory prices. That reads like a rising tide lifting every memory maker.
- MU was already down 4.98% at the October 29 close and sat 6.13% below that close in October 30 premarket at about $876.96. SNDK closed October 29 down 5.32%, then traded 8.36% below that close in October 30 premarket at $1,218.88.
- SanDisk reported results above estimates after the October 29 close, with $11.03B revenue, Q2 guidance of $12.2-12.6B and an 8-for-1 split, and the shares still traded lower. According to Reuters and other coverage, Intel's weak outlook and broad tech selling weighed on the whole group.
- The China risk cited in coverage is CXMT's reported 4F² design plans, and a design plan is a long way from high-yield mass production.
I'm still skeptical on memory long term because shortages end and the cycle turns, but I wouldn't pin this drop on one CXMT headline. What I want to hear is whether Micron addresses Chinese supply on its next call. I could be wrong, but for now that 19.3% looks more like the boom cooling than a flood of cheap supply.
Source:
Invezz: https://invezz.com/news/2026/10/30/cxmt-posts-613-jump-in-revenue-as-micron-sandisk-shares-tumble/
Not financial advice. For informational and educational purposes only.
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