Bloomberg Surveillance · Friday, September 4, 2026
The cost of memory chips has dramatically increased, with DRAM and NAND prices up 300-400% in a year, forcing Apple to raise iPhone prices. While demand for hardware and memory remains strong, significant data center delays due to 'nimbyism' could pose a future headwind.
“Apple has to raise the prices on the iPhone. It cannot not increase the price of the iPhone. And it has to increase them pretty significantly. We've already seen price increases for Macs and iPads.”
“The last two quarters, they've increased 60%, 70% quarter on quarter. This is just unheard of price increases. That level cannot sustain. DRAM and NAND are both something like 400, 300. up in one year.”
“So, we try to take a stab at that and put a multiple on that. We try to look at how much could earners go down in a down cycle and try to kind of average through the cycle.”