FinanceGizmodoabout 1 hour ago
Apple Warns of Higher Memory Costs and AI Spending
3 min read
Apple reported fourth quarter revenue of $114.48 billion but warned of narrower profit margins due to soaring memory chip prices and increased cloud costs for Siri AI. CEO John Ternus stated memory pricing is unprecedented and expected to rise further, while CFO Kevan Parekh noted AI investments are necessary for future revenue growth despite current margin pressure.
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