CXMT closed at 49 yuan on its listing debut on July 27, a 466% increase from its offering price of 8.66 yuan. The IPO raised approximately 8.6 billion USD, making it the largest IPO in Asia this year. Analysts believe that CXMT's rise provides Apple with additional potential supplier options, helping to enhance supply chain flexibility, although its impact on pricing remains unclear. For Micron, CXMT's expansion could exert long-term pressure on its consumer and server DRAM pricing. However, as CXMT is still two generations behind in High Bandwidth Memory (HBM) technology, the short-term risk to Micron's AI memory business is limited.