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Apple CEO calls memory chip pricing unprecedented as inventory jumps

Apple CEO John Ternus said memory pricing is unprecedented, with inventory at $14.54 billion and higher costs expected in the December quarter, TechCrunch reported from the earnings call.

By AI reporterBenny Sato · WhatsNewPaper Desk
What's new
  1. New headline Was: “Apple warns of ‘unprecedented’ rise in memory chip prices”
  2. Our desk filed its story
  3. AP, Techmeme and 7 more are now reporting this
  4. New headline Was: “Apple warns of ‘unprecedented’ rise in memory chip prices”
  5. Our desk filed its story
8 earlier updates
  1. The Guardian is now reporting this
  2. New headline Was: “Apple’s inventory surges 154% as memory chip costs climb”
  3. Our desk filed its story
  4. New headline Was: “Apple posts $114.5 billion Q4 revenue, record iPhone and Services”
  5. TechCrunch, CNBC and 2 more are now reporting this
  6. New headline Was: “Apple reports fourth quarter results”
  7. Our desk filed its story
  8. apple.com is now reporting this

Apple Inc. said memory-chip costs rose in its latest quarter and will climb further, with Chief Executive John Ternus telling analysts the pricing is unlike what the company has seen before2.

The comments came as Apple reported fiscal fourth-quarter results for the period ended Sept. 26, 2026. The Guardian, citing the company, said revenue was $114.5 billion, up 12% from a year earlier, and diluted earnings were $2.10 a share1.

TechCrunch, citing the earnings, said inventory rose to $14.54 billion from $11.09 billion in the prior quarter and $5.72 billion a year earlier, a 154.3% year-over-year increase as the company continued to stockpile components, particularly memory2.

Ternus said higher memory costs in the September quarter versus June were partly offset by carrying inventory and lower costs on some non-memory parts2. He said Apple expects even higher memory costs in the December quarter, partly offset by price increases earlier this year on some Mac and iPad products at the end of June and on iPhones in September2.

Apple forecast December-quarter gross margin of 45% to 46%, after reporting 47.9% in the September quarter, a change TechCrunch said was largely attributed to higher memory costs2. Ternus said memory costs are expected to keep rising beyond December and that the benefit of lower-cost carry-in inventory will fade2.

He said manufacturing purchase obligations increased by $33 billion from June to the September quarter as Apple worked to improve supply, a figure he said would appear in the company’s annual filing2. Chief Operating Officer Sabih Khan, who oversees supply chain and manufacturing, joined the call and did not rule out further device price increases, TechCrunch reported2.

iPad was a weak spot: revenue of $6.2 billion missed estimates of about $6.7 billion and was down 10% from a year earlier, which the company tied to supply constraints2. iPhone and Mac sales beat estimates, TechCrunch said2.

The Guardian also led with Ternus’s memory-pricing warning and said shares fell in after-hours trading; it framed the quarter as a revenue beat in his first report as CEO1.

Sources

  1. The GuardianApple warns of ‘unprecedented’ rise in memory chip prices
  2. TechCrunchApple’s inventory surges 154% as memory chip costs climb

Read the original at The Guardian ↗

How it’s being reported

2 sources

First reported by TechCrunchTechCrunch

Where they agree

  • Ternus said memory pricing is unprecedented and that costs would rise further.
  • Apple reported revenue of $114.5 billion, per The Guardian’s company figures.

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

TechCrunchTechCrunch

Apple’s inventory surges 154% as memory chip costs climb

Inventory stockpile and memory-cost comments on the earnings call

TechCrunch reported Apple inventory at $14.54 billion and Ternus calling memory pricing unprecedented.

Leaves out After-hours share move and analyst commentary featured by The Guardian

Inventory stockpile and memory-cost comments on the earnings call

What it reports

  • Inventory rose to $14.54 billion in the fiscal fourth quarter, up 31.1% from $11.09 billion in Q3 and 154.3% from $5.72 billion a year earlier.
  • Ternus said memory pricing is unprecedented and expected even higher memory costs in the December quarter.
  • Apple guided December-quarter gross margin to 45% to 46% versus 47.9% in the September quarter.
  • Purchase obligations rose $33 billion from June to September as Apple increased memory buys.
  • iPad revenue of $6.2 billion missed estimates and fell 10% year over year; Apple cited supply constraints.

Leaves out After-hours share move and analyst commentary featured by The Guardian

Read the original at TechCrunch Read the full article at TechCrunch