Hewlett-Packard has issued a stark warning to investors and industry observers: the cost of memory has ballooned to such an extent that it now represents roughly 35% of the total bill of materials for its personal computers. The disclosure, made during a recent earnings call, underscores a growing crisis across the PC industry as DRAM prices continue their relentless upward march, squeezing margins and threatening to reshape how manufacturers design and price their machines. The revelation came from HP CEO Enrique Lores, who told analysts that memory costs have become the single largest component expense in the company’s PC lineup. According to reporting by TechRadar , Lores characterized the situation as a significant headwind, noting that the proportion of cost attributable to RAM has climbed sharply compared to historical norms. In previous years, memory typically accounted for a far smaller share of overall PC component costs, often ranging between 10% and 20% depending on the configuration.…