Company’s wafer expansion and AI demand could lift its DRAM share and more than double the stock’s value, analysts say
ChangXin Memory Technologies(CXMT) could more than double from Monday’s close as the Chinese chipmaker expands its global
dynamic random-access memory(DRAM) market share to 18 per cent by 2028, according to Nomura, which set a price target of 116 yuan.
The listing of CXMT, the country’s top maker of DRAM chips, sparked investor momentum as its shares surged 466 per cent to close at 49 yuan.
It has become the most valuable company listed on the mainland Chinese market. Its market cap of 3.28 trillion yuan (US$484.6 billion) is larger than US chip giant Intel, valued at about US$464 billion.
Samsung Electronicsand SK Hynix, and US firm Micron Technology– CXMT could expand its global market share amid rapid capacity growth and rising demand for artificial intelligence computing power, analysts said.
Nomura on Monday estimated its share of the global DRAM market could rise from about 10 per cent now to about 18 per cent by the end of 2028.
That growth would be supported by monthly capacity expanding from 280,000 12-inch wafers in Hefei and Beijing at the end of 2025 to 350,000 by the end of 2026 and 550,000 by the end of 2028, with new lines added in Shanghai, it added.