Departing Apple CEO Tim Cook Just Gave Memory Stocks Good News
Cook told investors that memory prices will continue to rise.
Overview
Departing Apple CEO Tim Cook held his final earnings conference call with the tech giant on July 30, and his parting comments should bode well for memory makers.
Cook compared memory pricing to a "hundred-year flood," and noted that the company will pay significantly more for memory in the upcoming September-ending quarter than in the recent June-ended quarter. He also indicated that memory prices are expected to continue to increase after the September quarter.
Details
Given the high memory prices, Apple has wanted to start sourcing some of its DRAM from Chinese companies, with the hope that this could help ease prices. However, representatives from both sides of the aisle have asked U.S. Department of Commerce Secretary Howard Lutnick to deny this request.
Source
Originally published at www.fool.com.