00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple CEO Tim Cook warned that rising memory costs are beginning to affect the company's
00:08business as a global supply crunch tied to artificial intelligence demand
00:13tightens availability, according to CNBC. The tech giant reported results that beat
00:19expectations and issued strong revenue guidance one day after Meta and Microsoft said higher
00:24memory prices drove increased capital expenditure forecasts. Cook said supply constraints had
00:30minimal impact in the December quarter and increased in the March period, with further
00:35pressure expected in the June quarter on several Mac models. Tech executives warned that soaring
00:41memory prices are driven by a global shortage tied to AI demand, with each new NVIDIA chip
00:46requiring more memory and tightening supply further. Analysts said Apple may adjust supplier agreements,
00:51pricing, or product configurations. For all things money, visit Benzinga.com.
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