Apple CEO Tim Cook warns of extended memory crunch. 'We'll look at a range of options'

Apple CEO Tim Cook gestures as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, U.S. Sept. 9, 2025. Manuel Orbegozo | Reuters The global memory crisis played an outsized role in tech earnings season, which hit an apex this week. Apple CEO Tim Cook warned it's just the beginning. "We believe memory costs will drive an increasing impact on our business," Cook said in the Q&A portion of his company's earnings call on Thursday after repeatedly telling analysts that the company faced "supply constraints" in the latest quarter. "We'll continue to evaluate this." Apple's earnings report, which included an almost across-the-board beat and better-than-expected revenue guidance, came a day after Meta and Microsoft said in their results that higher memory prices contributed to their elevated forecasts for capital expenditures for the year. In projecting $190 billion in capex for 2026, up 61% from last year, Microsoft CFO Amy Hood said on a conference call that she anticipates a $25 billion impact from higher component prices. Meta noted that "expectations for higher component pricing" contributed to its capex forecast increasing from a high of $135 billion to as much as $145 billion. Across the tech landscape, executives have been voicing their concerns about soaring prices for memory, which faces a worldwide crunch due to insatiable demand for artificial intelligence infrastructure. …