Western Digital shares jumped 7.7% to $766.71, marking a sixth consecutive session of gains and a 37% weekly increase. The company even touched an all-time intraday high of $799.87. This momentum rippled across the sector as Micron Technology climbed 8.1% to $1,127.78, while Sandisk saw an 11% surge to $2,175.40. Analog Devices also followed the upward trend, rising 4.6% to $433.51.
In section Market Quotes
Memory Stocks Surge as Apple Warns of Impending Price Hikes
“Unfortunately, price increases are unavoidable,” Apple Chief Executive Tim Cook told The Wall Street Journal, signaling that rising storage and memory costs have reached an unsustainable point. This candid admission from the tech giant triggered an immediate rally among major chip manufacturers struggling to meet global AI-driven demand.
Cook noted that the company has attempted to shield consumers from these expenses, but the current market environment has forced a change in strategy. The strain on DRAM and NAND supply chains, largely attributed to the insatiable hunger for AI hardware, continues to drive up costs for component manufacturers worldwide, effectively boosting investor confidence in the memory sector.
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