Micron Surges 8.7% to New Record on June 18 as Cook Signals iPhone Price Hike

According to Barron's, Micron Technology (MU) surged 8.7% to close at $1,133.99 on Thursday (June 18), reaching its 35th record closing high this year. The rally came after Apple CEO Tim Cook indicated the company will raise iPhone prices to offset soaring memory and storage chip costs.

Cook told The Wall Street Journal that price increases are unavoidable, stating the company can no longer absorb suppliers' cost hikes without passing them to customers. Micron has gained nearly 300% since the start of 2026, with its market cap approaching $1.3 trillion, as AI-driven demand for data center memory chips reshapes investor sentiment toward the chipmaker's valuation.