9AM Hour: Micron Soars on Blowout Quarter, Apple Hikes Prices, Nasdaq Rally Hopes Fizzle 6/25/26

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 25 June 2026

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, David Faber and Michael Santoli led off the show with tech and the AI Trade: Shares of Micron soared after the memory chip maker posted a blowout quarter. Apple announced it is hiking prices on MacBooks and iPads due to the memory chip crunch. Shares of the iPhone maker fell sharply, helping to drag the Nasdaq into negative territory in Thursday's trading and erasing the optimism sparked by Micron. Core PCE — the Fed's preferred inflation gauge — rose in May to year-on-year levels not seen since 2023. Also in focus: Qualcomm surges, oil prices fall to fresh pre-Iran war lows, a JPMorgan Chase executive seen a potential successor to CEO Jamie Dimon is leaving the bank, Anthropic vs. Alibaba, all things SpaceX. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintanilla,
0:04.9	on the opening bell hour of CNBC Squawk on the Street.
0:14.5	Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintania with David Faber,
0:18.2	Mike Santoli, and post nine of the New York Stock Exchange. Kramer has the morning off. Bulls join their best to narrow these losses for June, and they'll get some help today from Micron's blowout quarter, steady PCE print, which, while elevated at three-year highs, isn't doing a whole lot to dampen consumer spending. Oil's another tailwind, West Texas, closer to 69, 10-year yield near some six-week lows.
0:41.1	A roadmap begins with reigniting this AI rally. Microns results and guidance fueling some big gains across tech ahead of the open.
0:48.2	Plus, J.P. Morgan Chase, you just heard about this from Leslie. It's reshuffling top ranks.
0:52.7	Two new co-president roles have been created as long-time veteran
0:56.9	and head of its Consumer Banking Division, Marion Lake exits the bank. And Apple raising prices on MacBook and iPad
1:03.9	due to memory crunch, a hinting of more price hikes to come from there. Let's begin, though, with
1:09.8	Mike Ron, surging in the pre-market, leading the tech rally after posting
1:12.8	that blowout quarter.
1:14.1	Company benefits from an AI-fuel demand amid a shortage in memory chips, which we now think
1:18.8	will last even longer.
1:20.6	Here's Marotra on last night's call.
1:23.7	With respect to supply, our customers are recognizing that supply shortages in memory and storage
1:30.3	will take considerable time to improve.
1:33.3	Even as we expect industry supply to improve gradually in 2028, we currently do not have line-of-sight
1:42.3	as to when memory supply will be able to catch up with
1:46.2	increasing demand.
1:48.2	Some remarkable elements about the quarter. Net income doubles quarter on quarter.
1:52.1	Gross margin guidance is better than even in Vidias at their top. And then today, city goes to
1:57.5	1400. D.A. Davidson, two grand. Yeah. The superlatives are pretty well justified by the numbers in terms of the pace of the growth and the improvement.
	...

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