Apple is raising prices on iPads, MacBooks, and other products because AI data centers are hoarding memory chips, creating an unprecedented shortage. The supply crunch benefits Micron Technology most: the chip maker's profit nearly tripled in its latest quarter as it sells the scarce memory at inflated prices. However, the market expects this windfall to be temporary, since memory markets are historically cyclical and supply will eventually catch up to demand.
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Apple increased prices on multiple products including iPad and MacBook, citing unprecedented memory chip price jumps. The shortage stems from AI data centers consuming enormous quantities of memory, pulling supply away from consumer devices. Micron Technology, the largest U.S. memory chip maker, reported fiscal Q3 2026 revenue of $41.46 billion（約6.6兆円） (up from $9.30 billion（約1.5兆円） a year earlier) and net income of $28.24 billion（約4.5兆円） (up from $1.89 billion（約3000億円）), nearly 15 times higher.
Why it matters
Memory prices are spiking because three companies dominate the market, making pricing sensitive to supply-demand swings. AI data centers can afford to pay premium prices, so they absorb most available supply. Consumers ultimately bear the cost through higher device prices. Micron's adjusted gross margin reached a record 84.9%—more than double the year-ago level—because production costs stay low while prices double, letting most of the increase flow to profit.
What to watch
Micron guided for revenue of around $50 billion（約8兆円） and an even higher margin in the current quarter. However, memory is historically cyclical; the market prices in this windfall lasting only temporarily. Once supply catches up, prices and margins can fall sharply. Investors are betting the current shortage will not persist indefinitely.
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