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Investors turned their attention to Micron's quarterly earnings after a global technology sell-off. With concerns mounting over AI spending, the memory chipmaker's results are seen as a key test for the AI memory trade.
Memory-chip maker Micron's quarterly earnings tomorrow will gauge a memory market reshaped by AI data-centre demand. MarketWatch reports profit growth approaching 1,000%, while HBM (high-bandwidth memory) price tightness has already pushed Goldman Sachs to trim its global smartphone forecasts.
Apple said it will raise prices on some products as AI-driven demand for memory chips pushes costs to record highs. The company plans staged increases on iPhones and other devices to protect margins. Goldman Sachs trimmed its global smartphone market estimates citing high memory costs.
The AI buildout has triggered an unprecedented squeeze in global DRAM and NAND supply, with CNBC reporting that even Apple is losing the price leverage it long enjoyed. Goldman Sachs trimmed global smartphone shipment estimates this week citing higher memory costs. Analysts warn consumer device prices will rise into the holiday cycle.