Micron Slips 4% Amid Industry Weakness, But Apple's Tim Cook Sees Higher Memory Prices Ahead

Micron Technology shares declined by approximately 4% in premarket trading on Thursday, reaching $861.43.

The weakness in Micron's stock price was partly attributed to Western Digital's disappointing outlook and SanDisk's mixed performance, which sparked worries about profit margin durability throughout the memory industry.

However, Apple CEO Tim Cook indicated that memory expenses will climb 'even higher' this quarter, signaling strength for Micron.

Cook's statements carry significant weight as Micron is one of just three major DRAM and high-bandwidth memory (HBM) suppliers globally. With industry supply constraints anticipated to extend through 2027 and Micron's production capacity locked into long-term contracts, the supply-demand equation continues tilting toward producers.