Macronix International (2337)
Macronix International (2337) is Taiwan’s non-volatile memory specialist, a world leader in NOR flash and mask ROM with a fast-growing SLC NAND line. In ETFpedia it represents the Asia memory semiconductor concept’s NOR flash and ROM layer. In Q1 2026 it swung to a NT$1.78 billion profit as revenue rose 71% year over year.
| Ticker | 2337 |
|---|---|
| Exchange | TWSE |
| Sector | Technology · Non-Volatile Memory (NOR Flash & ROM) |
| Country | Taiwan |
| Related index | Akros Asia Memory Semiconductor Top 10 Index (AAMST10) |
| Wikidata | Q11087244 |
| Last updated | 2026-06-10 |
Next event:Next earnings · Q2 2026 resultsestimated · Date not yet announced. Macronix reported Q1 2026 on April 27 and held its Q2 2025 conference on July 30, 2025, so the Q2 2026 release is expected in late July 2026; estimated, not company-confirmed. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-04-27)
Macronix swung back to profit in Q1 2026: net sales rose 35% quarter over quarter and 71% year over year to NT$10.47 billion, gross margin jumped to 40.8% from 17.7% a year earlier, and net income of NT$1.78 billion, or NT$0.90 per share, ended a streak of quarterly losses stretching back to 2023. NAND flash soared to 30% of product sales after Samsung's MLC exit, while NOR flash held 58% and ROM 8%.
| Net sales | NT$10,469M+71% YoYYoY · +35% QoQ |
|---|---|
| Gross margin | 40.8%+23.1pp YoYYoY |
| Operating income | NT$1,933M · 18.5% operating margin, vs -17.6% a year earlier |
| Net income | NT$1,779M · EPS NT$0.90; first profitable quarter since Q2 2023 |
Guidance:Q2 2026 (management commentary)
| NOR & SLC NAND contract prices | ≈+100% QoQ anticipated |
|---|---|
| Pricing model | Monthly negotiations on all supply agreements |
| 2026 capital expenditure | NT$22 billion |
Macronix issues no formal P&L guidance; chairman Miin Wu said the eMMC and NAND supply-demand gap is huge and price hikes will continue, with 12-inch capacity already fully utilized.
Recent & upcoming events
- · Q1 2026 results: first profit since Q2 2023.Net sales of NT$10.47 billion rose 35% QoQ and 71% YoY, gross margin reached 40.8%, and net income of NT$1.78 billion (EPS NT$0.90) made Q1 2026 Macronix's first profitable quarter since Q2 2023. (source)
- · Shift to monthly pricing amid the NAND shortage.Chairman Miin Wu said the supply-demand gap in eMMC and NAND is huge and Macronix will keep raising prices, moving all supply agreements to monthly negotiations; after Samsung's exit it is nearly the sole supplier of low-density NAND for eMMC, a market worth US$1 to 2 billion a year. (source)
- · NAND revenue up 382% on Samsung's MLC exit.TrendForce reported Macronix's NAND revenue rose 90% QoQ and 382% YoY to 30% of sales, with eMMC revenue up 94% QoQ; 12-inch capacity of about 25,000 wafers a month is fully utilized, and new tools arrive only in H1 2027 amid industry-wide equipment shortages. (source)
Quarterly figures are consolidated, from Macronix's Q1 2026 results presentation filed via the TWSE Market Observation Post System on April 27, 2026; product-mix percentages are parent-company sales. Macronix reports calendar quarters.
Figures are as of 2026-06-10 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Macronix International do?
Macronix makes the memory that has to work for a decade, not the memory that wins benchmark charts. Founded in 1989 by chairman Miin Wu, who returned from Silicon Valley with about 40 engineers to build Taiwan’s first homegrown non-volatile memory house, it is one of the world’s leading suppliers of NOR flash and mask ROM, plus SLC NAND, all made in its own Hsinchu fabs. Its chips store the boot code in cars and factory equipment, the firmware in networking gear, and the game data in console cartridges, sockets where reliability beats density. In Q1 2026, NOR flash was 58% of product sales, NAND 30%, ROM 8%, and foundry services 4%; NOR flash shipments for automotive applications have compounded at a 12% CAGR from 2020 to 2025 (Macronix Q1 2026 results).
How is the memory shortage driving Macronix’s business?
Through the side door: exits. Samsung’s withdrawal from MLC NAND left the embedded multimedia card (eMMC) market, worth US$1 to 2 billion a year, with almost no suppliers of low-density NAND, and Macronix stepped into the vacuum (Taipei Times). The numbers are violent: NAND revenue rose 90% quarter over quarter and 382% year over year in Q1 2026, with eMMC revenue up 94% in a single quarter, lifting NAND from 11% of sales a year ago to 30% (TrendForce). Kioxia and Micron are also stepping back from SLC NAND while NOR supply tightens, so Macronix has torn up quarterly contracts entirely. Chairman Miin Wu was blunt about the imbalance:
“The gap between supply and demand of eMMC and NAND is huge. We will continue hiking prices in line with market dynamics.”
— Miin Wu, Chairman, Macronix International (Taipei Times)
What did Macronix report most recently?
In Q1 2026 (the quarter ended March 31, 2026, reported April 27), Macronix posted net sales of NT$10.47 billion, up 35% quarter over quarter and 71% year over year, a gross margin of 40.8% versus 17.7% a year earlier, operating income of NT$1.93 billion (an 18.5% operating margin against minus 17.6% a year ago), and net income of NT$1.78 billion, or NT$0.90 per share (Macronix Q1 2026 results). It was the company’s first profitable quarter since Q2 2023, ending a loss streak that ran through the entire memory downturn (Taipei Times).
What is Macronix’s guidance?
Macronix gives no formal numbers, but its pricing posture is guidance enough. All supply agreements now reprice monthly instead of quarterly, and TrendForce reports NOR and SLC NAND contract prices are anticipated to rise roughly 100% in Q2 2026 (TrendForce). The constraint is physical: its 12-inch fab runs near full capacity, around 25,000 wafers a month, and 2026 capex of NT$22 billion buys equipment that mostly arrives in the first half of 2027 because tool lead times have stretched industry-wide (Taipei Times). Until then, growth comes from price, not bits.
What are the risks for Macronix?
- A price-only engine. Q1 2026 ROM shipments actually fell on seasonality and foundry sales were flat; the profit swing came from NOR and NAND pricing, which can reverse as fast as it rose (Macronix Q1 2026 results).
- Capacity ceiling. With fabs full and new tools arriving only in H1 2027, Macronix cannot chase volume while the shortage is hottest (Taipei Times).
- Re-entry risk. Its eMMC windfall exists because Samsung left; any major rebuilding low-density NAND supply would compress the niche again.
- Cyclical scars. The ten quarters of losses before this upturn show how hard the same markets cut in a downcycle.
Related securities, concepts & terms
- Asia Memory Semiconductorparent
- Winbond Electronics (2344)related
- Kioxia Holdings (285A)related
Related indices & ETFs
- Akros Asia Memory Semiconductor Top 10 Index (AAMST10) · Akros Technologies, Inc.Pure-play index of Asia's top 10 memory-semiconductor companies that includes Macronix International; no licensed tracking ETF yet.
These references describe index-tracking relationships as a matter of fact and are not a recommendation to buy any product. Akros, as the index provider, may receive licensing fees from product sponsors. Review the product's prospectus before investing.
Frequently asked questions about Macronix International
What does Macronix International do?
Macronix is a Taiwanese non-volatile memory specialist, one of the world's leading suppliers of NOR flash and mask ROM with a fast-growing SLC NAND line, founded in 1989 by chairman Miin Wu. Its chips go where reliability matters more than density: cars, factories, networking gear, and game-console storage. In Q1 2026 NOR flash was 58% of product sales, NAND 30%, ROM 8%, and foundry services 4% (Macronix Q1 2026 results).
What was Macronix's latest quarterly revenue?
In Q1 2026 (the quarter ended March 31, 2026, reported April 27), Macronix posted net sales of NT$10.47 billion, up 35% quarter over quarter and 71% year over year, with gross margin jumping to 40.8% from 17.7% a year earlier (Macronix Q1 2026 results). Net income of NT$1.78 billion, or NT$0.90 per share, was its first quarterly profit since Q2 2023 (Taipei Times).
What is Macronix's guidance?
Macronix does not publish formal P&L guidance, but the direction is explicit. Chairman Miin Wu said the supply-demand gap in eMMC and NAND is huge and the company will keep hiking prices, with all supply agreements moved to monthly negotiations (Taipei Times). TrendForce reports NOR and SLC NAND contract prices are anticipated to rise roughly 100% in Q2 2026, with 12-inch capacity of about 25,000 wafers a month fully utilized (TrendForce).
When does Macronix report its next earnings?
Macronix has not yet announced its Q2 2026 results date. It reported Q1 2026 on April 27, 2026, and its Q2 2025 conference was held on July 30, 2025, so the Q2 2026 release is expected in late July 2026; that timing is estimated, not company-confirmed (Macronix IR).
Why did Macronix swing back to profit in Q1 2026?
Because Samsung's exit from MLC NAND handed it a market. Macronix's NAND revenue rose 90% quarter over quarter and 382% year over year to 30% of sales, with eMMC revenue up 94% in a single quarter, as buyers of low-density NAND for embedded multimedia cards found Macronix nearly the only supplier left in a market worth US$1 to 2 billion a year (TrendForce, Taipei Times). Rising NOR flash prices, up 47% year over year in revenue terms, did the rest (Macronix Q1 2026 results).
Sources & references
- Macronix International Co., Ltd. First Quarter 2026 Results (investor conference presentation) · Macronix International Co., Ltd. (TWSE Market Observation Post System filing), 2026-04-27
- Macronix eyes more price hikes in coming quarters · Taipei Times, 2026-04-28
- Macronix NAND Sales Jump 382% YoY on Samsung's MLC Exit, Shifts to Monthly Pricing Amid Deepening Crunch · TrendForce, 2026-04-28
- Quarterly Results | Macronix Investor Relations · Macronix International Co., Ltd., 2026-04-27