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Micron, SoftBank, ASML Stocks Drop
Shares of memory technology companies such as Micron, Broadcom, Sandisk, Seagate, and Western Digital declined due to escalating concerns over AI funding and increasing market competition. This decline followed the Chinese company CXMT's announcement of progress in developing high-density memory chips, intensifying competition with leading American and South Korean firms, even though CXMT still lags behind technologically. Analysts expect Chinese companies may threaten the market in the long term, but technological hurdles remain a barrier to their rapid development.
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