Micron Surges 8.7% to Record High on June 18 as Apple Signals Chip-Cost Pressure

According to Barron's, Micron Technology shares surged 8.7% to close at $1,133.99 on Thursday (June 18), marking a new all-time closing record, after Apple CEO Tim Cook signaled the company plans to raise iPhone prices to offset rising memory and storage chip costs. Cook told The Wall Street Journal that price increases are unavoidable given the significant cost pressures from suppliers.

Micron has gained nearly 300% since the start of 2026, with its market value approaching $1.3 trillion. The surge reflects investor reassessment of the company's memory chip products as essential hardware for AI data center demand.