Apple Raises iPad and MacBook Prices on Memory Cost Surge
MU•Micron reported blockbuster earnings Wednesday, easing initial AI-driven memory demand concerns before Apple raised iPad and MacBook prices in reaction to surging memory and storage chip costs. The price hikes sparked a 6% drop in Apple shares and drove Korea’s KOSPI down 10% and the SOX chip index down 8%.
1. Micron Reports Blockbuster Earnings
Micron delivered blockbuster earnings Wednesday, with revenue growth outpacing forecasts thanks to robust demand for AI-focused memory chips that boosted gross margins and investor confidence.
2. Apple Raises Device Prices
On Thursday, Apple announced price hikes for iPads and MacBooks to offset rising memory and storage chip costs, triggering a 6% decline in its share price in after-hours trading.
3. Chip Market Volatility Intensifies
The price-hike fallout reignited volatility in chip stocks, sending Korea’s KOSPI down nearly 10% and the Philadelphia SOX index down 8% as investors reassessed cost pressures on major memory suppliers like Micron.
