Memory stocks hammered as China's CXMT and 2029 oversupply fears spook investors

SK Hynix fell 26%, Samsung 22% and Micron about 11% over five days amid fears of Chinese competition from CXMT and a forecast of memory oversupply in 2029. Analysts doubt CXMT can scale its new architecture, but a Maeil Business Newspaper column warned of a "red ocean" by 2029.

• SK Hynix down 26% in five days, Samsung 22%, Micron about 11%
• CXMT unveiled server memory on a new architecture with higher density
• Analysts doubt scaling: a 50% yield means half the chips are scrapped
• Counterpoint sees DRAM prices down 23% in 2028 but still up 230% vs 2025