SanDisk’s stock took a hit as China’s CXMT, a DRAM giant, surged 400% in its Shanghai IPO—valued at nearly half a trillion dollars. Though CXMT doesn’t compete directly with SanDisk’s NAND flash, the market’s reaction signals growing Chinese dominance in memory chips, sparking fears that SanDisk’s 70% profit margins may face future pressure from rising global competition.
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