Apple's memory cost commentary gives Micron a pricing read-through

Apple's management said on its early-November earnings call that memory costs are unusually high and expected to keep climbing past the December quarter, with no timeline for when costs might ease. For Micron, a major memory supplier, that points to continued firm pricing power, though the reading comes from a device customer rather than from Micron itself. Micron shares rose roughly 3% on the day, recovering part of a sharp one-month drawdown, and remain well below their 52-week high. Micron's next earnings report is estimated for mid-December.

1. Apple CEO John Ternus called current memory pricing unprecedented on the company's earnings call on Monday, November 2, 2026.
2. Ternus said pricing for memory purchases is expected to keep increasing beyond the December quarter.
3. Apple's COO said the company expects supply constraints on Mac and iPad in the December quarter, primarily due to memory.
4. Apple gave no timeline for when memory costs might ease, and declined to say whether it has signed long-term supply agreements with memory makers.
5. Benzinga reported on November 3, 2026 that Micron shares were up about 3% at roughly $859, after falling about 22% over the prior month and about 31% below their 52-week high.
6. Per Benzinga, more than 75% of Micron's 2027 output is already committed; Micron's next earnings report is estimated for December 16, 2026.