Chinese Companies Gain Ground in Global Memory Market, Impacting Micron and SanDisk
Micron Technology (NASDAQ:MU) and SanDisk Corp. (NASDAQ:SNDK) underperformed the broader technology sector rally on September 3 as Chinese memory manufacturers gained significant market share. ChangXin Memory Technologies captured 10% of global DRAM revenue in Q2, up from 4%, while Yangtze Memory Technologies increased its NAND share to 14%. This growth is occurring amid a strong demand for memory driven by AI and rising prices. Despite the competitive pressure, Micron managed slight gains in both DRAM and NAND market shares. However, SanDisk lost ground as YMTC overtook it in NAND revenue. Expansion plans from Chinese firms include substantial funding through IPOs and supply agreements with major companies like Tencent. Analysts expect continued tightness in DRAM supply but a potential easing of NAND supply later this year. Micron's stock traded near $941, while traders on Polymarket gave it roughly a 29% chance to reach $990 by the end of the week.
Topics: China DRAM Micron NAND SanDisk semiconductors technology