United States
Taiwan
ChinaSemiconductors▼
Memory stocks face pricing test ahead of Micron earnings
Memory stocks are facing a fresh test as pricing momentum cools ahead of Micron Technology's earnings on Wednesday. Sara Awad of Tech Contrarians said the performance of memory players without significant high-bandwidth memory exposure could offer a better read on non-AI memory demand and pricing, which will be critical to Micron's gross-margin outlook. Among the names Awad highlighted, WT Micro reported August sales growth of only 8%, while Nanya Technology posted record August sales of NT$44.7B but monthly growth slowed to 2% from 49% in July, and Macronix International recorded a roughly 5% monthly increase in August, a slowdown from July. Awad noted that DRAM average selling prices could rise only 13%-18% in Q3, according to TrendForce, compared with roughly 50%-60% growth in Q2, while additional Chinese supply is coming online, with CXMT expected to reach roughly 20,000 wafer starts per month by year-end. Micron guided for an 86% gross margin last quarter after reporting 84.6%, and Awad said the market could react negatively if the company fails to guide for another increase.
About megatrends
Semiconductors › Memory — DRAM, NAND & HBM ▼Pricing
Artificial Intelligence › HBM & AI Memory Pricing
MU · Pricing · Negative DRAM ASP growth cooling to 13-18% in Q3 from 50-60% in Q2 and rising CXMT supply threaten Micron's gross-margin outlook ahead of earnings.
2337.TW · Demand · Negative Macronix's August sales growth slowed to ~5% monthly from July, signaling weakening non-AI memory demand.
2408.TW · Demand · Negative Nanya posted record August sales but monthly growth decelerated sharply to 2% from 49% in July, indicating cooling memory demand.
688825.CG · Supply · Negative CXMT's additional Chinese DRAM supply, expected to reach ~20,000 wafer starts per month by year-end, adds capacity pressure on memory pricing.