Micron Technology's stock fell by 4% to $790.50 due to increased competition from Chinese rival ChangXin Memory Technologies (CXMT), which is considering building a second memory-chip plant in Beijing. CXMT plans to potentially double its production capacity to over 600,000 semiconductor wafers a month, after recently going public with a market valuation near $500 billion. Despite CXMT's gains, Micron still leads the DRAM market with a 22% share, compared to CXMT’s rising 8%. Apple has been lobbying against CXMT being blacklisted to facilitate using its chips in devices sold in China.

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Micron Stock Drops as Chinese Memory Threat Intensifies

By Adam Clark

Updated Aug 03, 2026, 8:33 am EDT / Original Aug 03, 2026, 7:05 am EDT

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688825

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Micron Technology shares have risen more than 600% in the past 12 months. (Dreamstime)

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Micron shares fell Monday as Chinese rival ChangXin Memory Technologies considered building a second plant in Beijing.
ChangXin Memory Technologies plans to potentially double its production capacity to more than 600,000 semiconductor wafers a month.
Apple has lobbied the Trump administration to ensure ChangXin Memory Technologies does not end up on a trade blacklist.

Micron Technology

MU\ \ -5.90% was falling early Monday. The memory-chip company looks set to face sharper competition from a Chinese rival.

Micron shares were down 4% at $790.50 in premarket trading.

The moves comes as China’s ChangXin Memory Technologies (CXMT

688825\ \ +1.89%) mulls whether to build a second memory-chip plant in Beijing, following its recent initial public offering which led to the company surging to a market valuation of close to $500 billion, according to a Reuters report.

CXMT didn’t immediately respond to a Barron’s press request early on Monday.

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CXMT is the world’s fourth-largest manufacturer of dynamic random-access memory. It had an 8% DRAM market share in the first quarter of the year, rising from 3% for the same period a year earlier, according to Counterpoint Research.

That’s still well behind Micron’s 22% DRAM market share, and the even larger positions of South Korean companies SK Hynix

000660\ \ -8.79% and Samsung Electronics. But the money raised in CXMT’s IPO will help it fund more production and take global market share.

SK Hynix’s American depositary receipts were down 2.9% in the premarket. Its shares fell 8.8% in local trading in South Korea on Monday.

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CXMT is planning to potentially double its production capacity to more than 600,000 semiconductor wafers a month, according to Reuters.

CXMT’s IPO and construction plans come as Apple has been pushing to use the chip maker’s products in devices sold in China. Apple has been lobbying the Trump administration to ensure that CXMT doesn’t end up on a trade blacklist, The Wall Street JournalExternal link reported. Apple didn’t respond to Barron’s requests for comment.

Write to Adam Clark at adam.clark@barrons.comExternal link

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Micron Stock Falls as China Memory Chip Threat Intensifies

Micron Stock Drops as Chinese Memory Threat Intensifies