Kioxia Holdings opens sharply lower by more than 16%

Nov 2

1. 17:56

   The Elec

   Kioxia's second-quarter operating profit hits a record, with an operating margin of 80.4%

   Japan's Kioxia announced that its revenue for the second quarter of fiscal year 2026 (July-September) was 2.48 trillion yen and its operating profit was 1.9947 trillion yen, both records, with an operating margin of 80.4%, higher than the 72% of Samsung Electronics' DS division and the 79.7% of SK hynix. Revenue increased 453.2% year-on-year, and operating profit increased 2222% year-on-year, mainly driven by a quarter-on-quarter increase of more than 20% in the average selling price of NAND and a 560.8% increase in revenue from the SSD business. Kioxia expects third-quarter revenue of 2.5 trillion yen and operating profit of 2 trillion yen, essentially flat, and said that its 2027 production capacity has been fully allocated to customers.

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2. 14:17

   cnBeta

   Kioxia's stock price plunged 17%, and the outlook for the AI storage super-cycle has changed

   Kioxia announced on Friday last week that its revenue for the second quarter of fiscal year 2026 was 2.48 trillion yen, a year-on-year increase of 453.20%, but it expects operating profit of 2 trillion yen for the December quarter, below analysts' expectations of 2.35 trillion yen, and its stock price plunged 17% on Monday. The company attributed the weak growth to shipment timing rather than deteriorating demand, and said that its planned production capacity for next year has sold out and more than half of its capacity for the year after has been allocated. The quarter-on-quarter increase in the average selling price of NAND plunged from about 70% in the second quarter to about 20% in the third quarter, which the market sees as a signal of a possible turning point in the upward cycle.

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3. 14:17

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4. 13:21

   East Money

   Kioxia shares plunge 17%, AI memory supercycle may be nearing an inflection point

   Shares of Kioxia, Japan's leading NAND flash maker, plunged as much as 17% on Monday and are down nearly 70% from their June record high, after the company forecast operating profit of 2 trillion yen for the December quarter, below analysts' expectations of 2.35 trillion yen. Kioxia attributed the stalled growth to shipment timing rather than deteriorating demand, and said its planned capacity for next year is already sold out; however, the quarter-on-quarter increase in average NAND selling prices has plummeted from about 70% to about 20%, fueling market concerns that the AI-driven memory upcycle may be at an inflection point.

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5. 13:05

   Cailian Press

   Kioxia shares plunge 17%, cautious guidance sparks concerns over AI memory super-cycle

   Shares of Japanese NAND flash leader Kioxia plunged as much as 17% on Monday, down nearly 70% from their record high in June this year. The trigger was the company's guidance for operating profit of 2 trillion yen for the December quarter, below analysts' expectations of 2.35 trillion yen. Kioxia attributed the stalled growth to shipment timing rather than deteriorating demand, and said its planned capacity for next year is already sold out, with more than half of the capacity for the year after already allocated. Its average NAND selling price growth slowed sharply from about 70% quarter-on-quarter in the second quarter to about 20% in the third quarter, intensifying market concerns about a turning point in the AI memory upcycle.

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6. 11:35

   Yicai

   Kioxia opens sharply lower, down over 16%, as third-quarter business outlook falls short of expectations

   Kioxia, Japan's leading memory chip maker, opened sharply lower on November 2, falling 16.74% to 11,215 yen per share as of publication, with a market capitalization of 21.52 trillion yen, down 64% from its peak of 60 trillion yen in late June. Kioxia's fiscal 2026 second-quarter financial report released on October 30 showed quarterly revenue of about 2.48 trillion yen, up 453.2% year on year, but its third-quarter operating profit outlook of 2 trillion yen was below analysts' expectation of 2.35 trillion yen. Sigmaintell data shows that NAND price increases slowed in October and structural mismatches emerged: 512G SSD prices rose 12% month on month, while 256GB UFS rose only 5.2%, and the market is shifting from broad-based price increases to structural increases driven by computing power.

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7. 11:35

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