// THE VERGE — MOBILE & WEB
Apple’s iPhone and Mac sales keep growing despite RAM shortages
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Tim Cook says the company expects to ‘pay even higher memory costs’ in the coming months.
Tim Cook says the company expects to ‘pay even higher memory costs’ in the coming months.
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Apple’s iPhone and Mac sales are on the rise even as a global memory shortage squeezes device makers. In its third-quarter earnings report released on Thursday, Apple revealed that iPhone sales jumped 22 percent to $54.25 billion and Mac sales increased 29 percent to $10.35 billion, driving the company’s overall revenue to $109.4 billion.
The company expects supply chain constraints to worsen in the coming months. During an earnings call, Apple chief financial officer Kevan Parekh said Apple expects “supply constraints to increase significantly” in the next quarter, adding the shortage will impact the iPhone, Mac, and iPad. Meanwhile, Apple CEO Tim Cook warned that the company predicts it will “pay even higher memory costs” in the coming months.
It’s the company’s last earnings report with Cook at the helm. Cook is set to step down on September 1st, with John Ternus, Apple’s vice president of hardware engineering, taking his place.