Musk's China RAM Warning Deepens Memory Glut Fears; Samsung Falls 9.5%, SK Hynix 11.1%
SSNLF has more than doubled off its 52-week low of $38.832.
Summary
Elon Musk warned on X that China will be "making a LOT of RAM in 2028," amplifying fears of a memory glut that could hit South Korea's two chip giants. Samsung shares fell 9.5% and SK Hynix 11.1% Thursday, Reuters reported, in a broader tech selloff tied to U.S. inflation worries and doubts over AI spending. The warning lands as China's CXMT says its fifth-generation DRAM platform is in mass production with at least 50% more gross dies per wafer than its predecessor, though it still trails Samsung, SK Hynix and Micron in high-bandwidth memory. South Korea's September semiconductor exports jumped 263% to $60.3 billion, nearly half of the country's record $120.9 billion total, so any reversal in chip prices would hit national export earnings hard. Gartner still expects memory to generate $837 billion, or 54% of worldwide semiconductor revenue, in 2026, up from 27% in 2025, and SK Hynix CEO Kwak Noh-jung said in July that demand could exceed supply beyond 2030. Samsung is the more directly affected name given its larger DRAM exposure; SK Hynix carries the same oversupply risk. Watch Samsung's Q3 results, where analysts expect a record 105.41 trillion won operating profit, for whether AI memory demand is holding up.
At the time of this announcement, SSNLF was trading at $140.00 on OTC in the Technology sector, with a market capitalization of approximately $886.9B. The 52-week trading range was $38.83 to $2,000.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.