Micron’s stock falls after Tim Cook seeks more memory suppliers

Apple CEO Tim Cook wants more options for memory chips. Micron investors are taking that personally. Micron Technology saw its stock slide after Cook made clear that Apple is actively seeking additional memory suppliers, a move that could dilute the pricing power that has made 2026 an exceptionally profitable year for the memory giant. Memory prices have gone vertical, DRAM climbing roughly 60% and NAND surging around 70% earlier in this cycle, and Apple is tired of being on the wrong end of that equation. The ‘100-year flood’ that broke Apple’s patience Cook didn’t mince words about the current state of the memory market. He described the pricing environment as a “100-year flood” featuring exponential cost increases that have forced Apple into an uncomfortable position. Apple has reportedly raised retail prices on key products by as much as 20% starting in mid-2026. For a company that has historically absorbed component cost fluctuations rather than pass them to consumers, that’s a significant strategic pivot. The explosive demand for high-bandwidth memory driven by AI applications has created a severe shortage across the chip industry. Major memory makers, Micron included alongsi...