Technology
Apple Price Hikes Spark Asia Tech Selloff on Memory Cost Concern
Key Points
Apple Price Hikes Spark Asia Tech Selloff on Memory Cost Concern Asian technology stocks slumped after Apple raised prices for its products, stoking concern that rising component prices will curb demand for devices and eventually slow the memory chip rally that has powered much of the AI trade. South Korean memory chip giants SK Hynix Inc. and Samsung Electronics Co. both slid more than 8%.
Apple Price Hikes Spark Asia Tech Selloff on Memory Cost Concern
Asian technology stocks slumped after Apple raised prices for its products, stoking concern that rising component prices will curb demand for devices and eventually slow the memory chip rally that has powered much of the AI trade.
South Korean memory chip giants SK Hynix Inc. and Samsung Electronics Co. both slid more than 8%. Their Japan-based peer Kioxia Holdings Corp. sank as much as 12%. That led to a 6.4% drop in the MSCI Asia Pacific Infotech gauge. Futures on the Nasdaq 100 Index declined 1.5%.