CXMT shares fall 7.8% despite forecasting record $19.8B nine-month net income
pstAsiatech · x · 2026-10-19
Per SCMP, Chinese memory giant CXMT fell 7.8% to 41.52 yuan despite forecasting record net income of up to $19.8B for the first nine months of 2026 on a 742% year-on-year revenue surge, plus a buyback plan. The stock, up 614% from its July IPO price at its August peak of 61.8 yuan, slid amid a global semiconductor rout as the AI-driven challenger presses Samsung and SK Hynix.
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