Western Digital shares jumped 7.7% to $766.71, marking a sixth consecutive session of gains and a 37% weekly increase. The company even touched an all-time intraday high of $799.87. This momentum rippled across the sector as Micron Technology climbed 8.1% to $1,127.78, while Sandisk saw an 11% surge to $2,175.40. Analog Devices also followed the upward trend, rising 4.6% to $433.51.

Cook noted that the company has attempted to shield consumers from these expenses, but the current market environment has forced a change in strategy. The strain on DRAM and NAND supply chains, largely attributed to the insatiable hunger for AI hardware, continues to drive up costs for component manufacturers worldwide, effectively boosting investor confidence in the memory sector.