Apple sees "favorable" memory prices continuing

SAN FRANCISCO (Reuters) - Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) expects prices for memory chips used in its personal computers and iPod music players to stay low in its current quarter, Chief Operating Officer Tim Cook said on Monday.

"As you know, DRAM and NAND flash were favorable last quarter, and we believe that will continue in our Q1," Cook told analysts on a conference call. Apple has cited falling prices of components, including memory chips, as a reason for its improving gross margins.