Tim Cook’s remarks on unavoidable cost increases for Apple products drive gains in memory suppliers SanDisk and Western Digital.
SanDisk (SNDK) jumped 11% to $2,170 while Western Digital (WDC) rose 7% to $764 after Apple CEO Tim Cook called memory cost increases “unavoidable” for the company’s products. The comments reinforced supplier pricing power in the memory market, boosting the DRAM ETF by 10%.
Both stocks have surged year-to-date, with SNDK up 817% and WDC up 349%, amid projections of supply tightness through 2028. SanDisk’s trailing P/E stands at 72x, with bullish sentiment at 85, though some analysts warn of a potential blow-off top.
The rally extended across memory and storage names, as traders interpreted Cook’s remarks as confirmation of sustained pricing momentum for suppliers like SanDisk and Western Digital.