Why Micron's blowout earnings are a headache for Apple

Micron's blowout earnings sent the stock soaring Thursday, but the bigger market message showed up in Apple's share price.

Investors are rewarding Micron (MU) for a global memory squeeze that has pushed pricing power back to suppliers. Apple (AAPL), down over 5% after raising prices on some Macs and iPads, is showing the other side of that squeeze.

Apple is back below where its May breakout began. The stock has fallen into the upper end of its old range, putting the $275 to $280 area back in focus. That zone is now the line between a bruising one-day price shock and a failed multi-week breakout.

The trigger was simple. Apple raised prices on some MacBooks and iPads amid the global memory crisis, with increases running from $100 to $300 on some devices. While the move was somewhat expected, the size of the price increases was not. iPhone prices were left unchanged for now.

Micron just showed why that cost pressure is not going away quietly.

Why did Micron's earnings surge affect Apple's stock?

What drove Micron's record 84.9% gross margin?

What makes Apple's $275-280 zone technically significant?

How are memory chip shortages impacting tech pricing?

Micron topped Wall Stree

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/article/why-microns-blowout-earnings-are-a-headache-for-apple-161932441.html)