Micron Jumps 8.7% to Record High on June 18 as Apple CEO Signals Price Hike

According to Barron's, Micron Technology stock surged 8.7% on June 18 to close at $1,133.99, marking another record high and the company's 35th closing record this year. The rally followed Apple CEO Tim Cook's statement that iPhone prices will increase to offset rising memory and storage chip costs. Cook told the Wall Street Journal, "Unfortunately, price increases have become unavoidable. We've tried to absorb the significant cost increases our suppliers have passed on and avoid passing these costs to customers, but the current situation is no longer sustainable." Year-to-date, Micron has gained nearly 300%, with market capitalization approaching $1.3 trillion, driven by surging data center demand for memory chips amid AI expansion.
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