In an interview with The Wall Street Journal following a blockbuster earnings report, Micron Chief Business Officer Sumit Sadana implied that Apple played a role in the current memory crunch. Here are the details.
Micron says low prices discouraged investment
After the bell yesterday, Micron Technology reported a blockbuster fiscal third quarter, with revenue up 346% and its gross margin approaching 85%. The company also forecast Q4 revenue above the market’s estimates.
The results sent the company’s shares up 15% in after-hours trading, and the stock held on to those gains today even as the broader chip sector saw intense volatility.
Earlier today, Apple announced significant price increases across its MacBook and iPad lineups, as well as several other products. The move came just over a week after Tim Cook told The Wall Street Journal that the ongoing RAM shortage would force the company to raise prices.
