Apple CEO Tim Cook said memory costs will drive an increasing impact on Apple’s business as the company grapples with a RAM shortage and supply constraints. [1]
Cook told investors on Apple’s earnings call that the company faced supply constraints in the last quarter and that it would keep evaluating the situation. “We believe memory costs will drive an increasing impact on our business,” Cook said, adding that Apple would “continue to evaluate this.” [1]
Apple’s revenue grew 17% in the second quarter and beat guidance despite the pressure on supply, Cook said. He said the effect from memory costs was minimal in the second quarter, but it would be larger for some Mac models in the quarter ending in June because demand for memory remains high. [1]
The report links rising memory prices to broader shortages that are affecting other tech companies and hardware plans. Apple did not give a forecast for when the strain would ease, but Cook said the company will keep assessing the impact as it works through the current quarter ending in June. [1]
