Apple Just Raised Prices Because of a Chip Shortage. But the Real Winner Isn't Apple. It's This AI Stock.

Apple raised prices on iPads, MacBooks, and other products due to a memory chip shortage driven by AI data center demand. While Apple bears the cost of higher component prices, Micron Technology, the largest American memory chip maker, is the real beneficiary. Micron's Q3 2026 net income surged to $28.24 billion from $1.89 billion year-over-year, with record gross margins of 84.9%, as memory prices spike 70-90%. However, investors should note that memory is cyclical, and Micron's forward P/E ratio of 7 suggests the market expects these record profits to be temporary.