Quick Read – Micron (MU) dropped 13% around the IPO but UBS raised its price target to $1,625, citing a structurally durable HBM supply imbalance. – CXMT earns 98% of revenue from commodity DRAM with no HBM presence, leaving it at least a generation behind Micron in AI memory. -…
t now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn’t make the cut. Grab the names FREE today
Shares of China’s ChangXin Memory Technologies exploded onto the Shanghai A-share market on Monday, July 27, 2026, closing up roughly 466% after intraday gains reached as much as 531% to 535%. The debut reordered the global memory landscape and pressured Micron Technology (NASDAQ:MU), the only U.S.-based DRAM manufacturer. The IPO raised 57.92 billion yuan (about $8.55 to $8.6 billion) at 8.66 yuan per share, marking the largest IPO in mainland Chinese semiconductor history.
CXMT closed with a market capitalization near 3.2 to 3.68 trillion yuan (about $460 to $488 billion), making it the most valuable company listed on China’s A-share market. Turnover topped 140 billion yuan in a single day, reportedly the first A-share ever to clear 100 billion yuan in one session. The company makes DRAM used in phones, PCs, tablets, and servers.