Kioxia Stock Falls 45%, Analysts Predict 118% Upside

Kioxia Holdings Corporation's stock dropped 45% in a month, closing at ¥55,860 on July 21, down 42% for the month after hitting a record high of ¥111,250 on June 22. Despite this decline, analysts remain optimistic, with a consensus target of ¥121,959, suggesting a potential upside of 118%. Kazuyoshi Saito from Iwai Cosmo Securities maintains a target of ¥132,000, citing unchanged fundamentals and strong AI-driven demand. Nomura Securities raised its target from ¥115,000 to ¥126,000, while Huaxing Research set its target above ¥100,000. However, some analysts express caution, noting the stock's recent volatility and suggesting that investors may prefer less volatile options. The broader chip market has also faced significant selloffs, impacting other Asian chipmakers like SK Hynix. The key challenge for Kioxia's bulls will be whether market volatility stabilizes before the upcoming earnings season.