From CNBC · Jenny Lee · · 1m 20s
CXMT shares fall despite profit turnaround forecast
China's memory chipmaker CXMT forecast a sharp swing to profitability, but investors sent shares down 7.8% as chip sector worries mount.
In brief
China's memory chipmaker CXMT forecast a sharp swing to profitability, but investors sent shares down 7.8% as chip sector worries mount. CXMT shares fell 7.8% despite forecasting net profit of one hundred thirty one to one hundred thirty two point five billion yuan for the first nine months of twenty twenty-six…
CXMT shares tumble despite profit forecast
Shares of ChangXin Memory Technologies, or CXMT, closed seven point eight percent lower on Monday after the Chinese memory chipmaker released its earnings forecast on Friday.
Company forecasts sharp turnaround to profit
CXMT expects net profit of between one hundred thirty one billion yuan and one hundred thirty two point five billion yuan for January to September twenty twenty-six, reversing a net loss of five point two…
AI demand drives DRAM market surge
The company attributed the sharp improvement to rapidly growing demand for AI computing power since the second half of twenty twenty-five, which has boosted the global DRAM market, leading to supply shortages and significant price…
Chip sector concerns override profit gains
Chip stocks have come under pressure over the past week due to worries about artificial intelligence financing, with some experts also flagging a possible chip supply glut after a couple of years.
What matters most
CXMT shares fell 7.8% despite forecasting net profit of one hundred thirty one to one hundred thirty two point five billion yuan for the first nine months of twenty twenty-six, reversing a loss, as chip sector concerns outweigh the turnaround.
