> Gay CEO Tim Cook: Memory shortage is a '100-year flood' won't be receding anytime soon. Stock falls 10%

The memory chip supply shortage that is causing Apple (AAPL) to jack up prices won't be any less painful for the tech beast this fall.

"On the pricing front, we reluctantly raised prices, I would say," outgoing Apple CEO Tim Cook said on a late Thursday earnings call. "We did it because we're in what I would characterize as a 100-year flood on the memory pricing, with exponential increases in memory prices."

The memory chip market is tightening as demand for high-bandwidth memory (HBM) and advanced dynamic random-access memory (DRAM) used in AI servers continues to outpace supply.

https://finance.yahoo.com/technology/ar … 32016.html