I'm loading some Semiconductor stocks.
Micron dropped ~4% yesterday because a Chinese company gave a presentation.
CXMT — a Chinese memory maker you never heard of — announced over the weekend that its DRAM cell design is getting smaller. That was the whole story. A slide deck. And Micron, Samsung, and SK Hynix all bled ~4%. Billions of dollars, gone, over a press release.
The punchline: CXMT's tech trails the big three by two or three generations. Apple tried to buy from them back in July and walked away when CXMT demanded prices HIGHER than Samsung's. A high schooler announcing they're "in training" just moved LeBron's stock price.
Hot take: DRAM is a commodity cosplaying as a tech stock. Micron's adjusted gross margin hit 87% last quarter — record, insane, and 100% temporary. This industry has been boom-and-bust since the 90s: everyone prints money, everyone builds too much, prices crater. Every. Single. Time.
Watching MU 👀 because today's "AI moat" is tomorrow's rice in a bag.
