Apple’s shares plunged more than 6% overnight, wiping out nearly $250 billion in market value

Shares of major Asian suppliers to Apple Inc dropped sharply on Friday after the technology company unveiled sweeping price increases for MacBooks and iPads, raising concerns that surging semiconductor costs are beginning to weigh on consumer demand and broader technology spending.

Apple’s shares plunged more than 6% overnight, wiping out nearly $250 billion in market value, despite Micron Technology’s upbeat AI-driven outlook earlier this week.

South Korean memory-chip giants led the declines. SK Hynix Inc tumbled 9.4%, while Samsung Electronics Co Ltd shed 9.2%, extending losses after reports the companies are preparing substantial increases in semiconductor investment. Both are key suppliers of DRAM and NAND memory chips used across Apple’s product lineup, making them highly sensitive to shifts in the iPhone and Mac ecosystem.

Camera component makers also came under pressure. LG Innotek Co Ltd, Apple’s primary supplier of high-end iPhone camera modules, declined 3.8%, while China’s Luxshare Precision Industry Co Ltd slipped 9.4%. Luxshare assembles AirPods, Apple Watches and an increasing share of iPhones, making it one of Apple’s fastest-growing manufacturing partners.

Japan’s Apple supply chain also weakened. TDK Corp, which supplies battery technology for iPhones and other Apple devices, slipped 8.2%, while Murata Mfg Co, a leading supplier of multilayer ceramic capacitors used throughout Apple’s hardware, slid 6.9%. Sony Corp, whose image sensors are widely used in iPhone cameras, slid almost 1%.

Taiwanese suppliers were comparatively resilient. Taiwan Semiconductor Manufacturing, Apple’s exclusive manufacturer of A-series and M-series processors, traded little changed, while Foxconn Technology Co Ltd, Apple’s largest iPhone assembler, was broadly flat. LARGAN Precision Co Ltd, the dominant supplier of premium iPhone camera lenses, was also little changed, according to Google Finance.