Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanier with Leslie Picker, David Faber here at Post 9 of the New York Stock Exchange. Sarah Eisen is off.

Coming up, micron shares are higher, but off the opening highs after this blowout quarter as the memory crunch boosts revenue off the best levels as we said and the NASDAQ has

given up early gains now down more than 1%. We'll talk to the head of viral DRAM ETF, which

counts Micron among the top holdings. Energy Secretary Chris Wright's with us as oil prices fall

close to some pre-war levels and as the administration marks a milestone around nuclear energy,

and it is one of the final Supreme Court opinion days of the session. We are awaiting a potential

decision regarding the president's authority to fire Fed Governor Cook. We'll get you those headlines

if and when we get them. But let's begin with breaking news this morning on Apple. Shares are

getting hit this morning down 4.8% after the company officially raised prices on a number of products due to the skyrocketing costs of memory and storage.

McKenzie Sagalos joins us now with more.

Hey, Mac.

Hey, Leslie.

So those shares falling this morning as investors digest the company's first real move to pass the AI memory crunch

directly onto consumers. The Apple store is down for nearly an hour this morning as the company

re-racked pricing across parts of its MacBook and iPad lineup. The increases are roughly in the range

of $100 to $300 depending on the device, so this is not across the board and it is not touching

the current iPhone lineup,

at least not yet. But it is a clear signal that the cost pressure has finally gotten too big for

Apple to fully absorb. The company is saying in a statement this morning that the consumer

electronics industry is facing what it referred to as an unprecedented challenge with AI

data centers driving an extraordinary surge in demand for memory and storage.

Apple also said it has reached a point

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