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Apple Tumbles 6%, Microsoft Falls 3.5% as Memory Chip Costs Surge

GateNews
StocksIndices
According to CNBC, Apple tumbled more than 6% and Microsoft shed 3.5% yesterday (June 25) after both companies announced price hikes due to surging memory chip costs. The declines marked Apple's worst day in more than a year and reflected broader tech sector weakness, as the Nasdaq Composite notched its fourth straight losing day—its longest such streak since February. Both Apple and Microsoft cited AI demand for memory chips as a driver of rising component costs, forcing them to raise prices on iPads, MacBooks, and Xbox consoles. Micron, which manufactures memory chips, climbed more than 15% after a strong earnings report, but fell this morning following a report that OpenAI is considering delaying its IPO. The Nasdaq is pacing to close the week more than 4% lower.
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