AI-Driven Price Hikes Hit Tech Stocks

Technology stocks experienced sharp moves last week due to higher component costs and concerns over consumer demand. Apple (AAPL) and Microsoft (MSFT) raised prices on key hardware products, citing AI-driven memory chip costs.

The companies' shares fell: Apple lost over 4% while Microsoft dropped around 1%. Despite this, retail sentiment for Apple stock remained in 'bullish' territory with a 67% increase in message volume.

Micron Technology (MU) surged after reporting strong fiscal third-quarter results and extending its chip shortage forecast beyond 2027. The company's CEO stated that supply shortages would take considerable time to improve.