Micron Slides 6% on DRAM Supply Lawsuit and Apple CXMT Sourcing
MU•Micron shares fell 6% after a California class-action lawsuit accused the company, Samsung and SK Hynix of coordinating DRAM supply to inflate prices. Apple is reportedly seeking permission to source memory chips from Chinese supplier CXMT instead of Micron, fueling concerns over potential contract losses.
1. Class-Action Lawsuit
A class-action lawsuit filed in California alleges that Micron, Samsung and SK Hynix coordinated DRAM output to restrict supply and push prices higher during the AI-driven memory boom.
2. Market Reaction
Micron’s stock dropped 6% on the first trading day after the lawsuit news, underperforming the Philadelphia Semiconductor Index and drawing comparisons to peers like Sandisk, which fell 8%.
3. Apple Sourcing Shift
Reports that Apple is seeking permission to buy memory chips from Chinese supplier CXMT instead of Micron have raised concerns about potential loss of key contracts, though analysts point to projected memory deficits through 2027-2028 that may cushion near-term impact.
