BUSINESSFORTUNE
Tim Cook signed off on his final Apple earnings call with a warning about a ‘hundred year flood’ in memory chip pricing
Tim Cook warned of severe supply constraints impacting iPhone and Mac sales due to a 'hundred year flood' in memory chip pricing, as he prepares to hand over CEO duties to John Ternus in September. Apple forecasts slower iPhone growth and lower revenue, with shares falling after hours following the earnings call.
Mentioned
Related Signal
Adjacent reporting
- Tim Cook’s last earnings call comes at momentous time for Apple with stock at record
- Tim Cook says Apple will raise prices as memory chip shortage tightens
- As Tim Cook steps down, Apple hit record sales — but a chip shortage looms
- Tim Cook will step down as Apple CEO and hand reins over to the iPhone maker’s hardware leader
- Apple hails 'extraordinary' iPhone demand as boss Tim Cook heads out
- Apple raises prices due to memory chip shortage