Micron Technology's stock fell 5% following Chinese company CXMT's announcement to enter the high-end server memory market with a denser chip design. This new competition threatens Micron's core server memory business, which is critical for AI data centers. SanDisk, which does not produce server memory but sells flash storage, also saw its shares drop 4%, reflecting sector-wide sentiment. Investors will watch CXMT's product launch timeline closely, as delays could ease pricing pressure on Micron, while an on-time launch may sustain market strain across memory stocks.
Following the news of CXMT entering the server memory market, Micron Technology's shares have dropped by 4.90% on Pluang as of Oct 13, 2026 20:22 WIB, trading at USD 940.61. SanDisk also declined by 4.29%, priced at USD 1,423.50 on the platform. Despite these falls, Micron maintains a substantial market cap of $1.12 trillion, while SanDisk holds $214.96 billion, with typical hold times of 48 days and 9 days respectively, indicating varied investor engagement.
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