Apple CEO Tim Cook says the company is fighting 'a hundred-year flood' on memory pricing — expects to pay even more for memory in September following recent price hikes

Apple CEO Tim Cook described current memory pricing as a hundred-year flood, noting that costs will increase further in the September quarter compared to the June quarter. Both Apple and Amazon are negatively impacted by these rising memory prices. Consequently, Tim Cook expressed a desire for Apple to secure more memory suppliers. Following these statements during the company earnings call, Micron stock experienced a decline as the market reacted to the pricing challenges and supplier strategy.