Micron stock slides as Chinese rival CXMT targets server DRAM market

Micron Technology's stock fell for a fifth consecutive day on Wednesday, with further declines Thursday, as investor concerns over Chinese rival CXMT's advanced DRAM technology overshadowed record earnings from industry leaders ASML and TSMC. CXMT announced plans to launch DDR5 server modules using denser 4F² cell architecture by year-end, directly targeting Micron's profitable server business, though it provided no specifications or customer delivery details. The selloff also hit Western Digital and Sandisk, suggesting a broader sector reassessment following a strong rally. Micron's stock has dropped about 27% from its summer high of $1,255. The company reported Q4 revenue of $54.2 billion, up from $11.3 billion year-over-year, and forecasts Q1 FY2027 revenue of $61.5 billion, though it expects a gross margin trough during that period.