Quick Read – Apple is reportedly targeting Chinese fab CXMT for LPDDR5X memory, threatening Micron’s $12 billion mobile segment despite its 85% gross margins. – SanDisk and Western Digital sold off sharply as Apple’s CXMT talks erased the assumption Chinese supply cannot…
dercut memory pricing floors. – Carter Worth flagged four 20% drops in Micron since March and warned normalized margins could collapse from 85% toward 29% as capacity floods in. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Apple didn’t make the cut. Grab the names FREE today
The story rippling through memory stocks this week began on CNBC’s Fast Money on June 29, where the panel dug into a report that Apple is trying to source memory chips from Chinese manufacturer CXMT. The company Apple (NASDAQ:AAPL) wants to buy from is not yet on the US entity list, unlike YMTC, which already is. For Micron Technology (NASDAQ:MU), whose Mobile and Client segment just did $11.521 billion in a single quarter, that is a shot across the bow.
An Apple exit would blow through Micron’s mobile book Micron’s fiscal Q3 2026 revenue landed at $41.456 billion, up 345.7% year over year, non-GAAP EPS at $25.11, and GAAP gross margin at 84.6% against 37.7% a year earlier. Guidance was, if anything, more startling. $50 billion in revenue and $31 in EPS for the next quarter. CEO Sanjay Mehrotra called out “multi-year Strategic Customer Agreements” that he said would make the earnings stream more durable, and the numbers, per the Q3 8-K press release, do back him up.