Apple Falls 7% as Cook Warns of Memory Chip ‘100-Year Flood’
Apple stock slid 7.35% Friday after CEO Tim Cook called soaring memory chip prices a ‘100-year flood.’ Nvidia reclaimed the most-valuable-company crown.
tim cook
Apple Q3 Beat: $109B Revenue, EPS +29%, Records Across iPhone/Mac/Services
Apple posted its strongest June quarter ever with $109.4B revenue and $2.02 EPS. Tariff refunds added ~2pp to gross margin and $0.11 to EPS.
Tim Cook: Apple Price Hikes ‘Unavoidable’ as Memory Costs Surge
Tim Cook told the WSJ that Apple price increases are ‘unavoidable’ after AI-driven memory chip costs hit a ‘hundred-year flood.’ AAPL fell 1.1% to $295.95.