Apple's Stock Drops Nearly 10%. How Will It Respond to Memory Shortage?

Apple’s stock “fell just shy of 10% on Friday,” reports Yahoo Finance, “after CEO Tim Cook warned about the impact of the global memory shortage on the company’s business.” During Apple’s third quarter earnings call, Cook said the company paid significantly more for memory in the quarter and expects that to further increase in the current period. And while Apple is able to offset some of that price jump, it won’t be able to tackle it all… The CEO said that iPhone and Mac sales outpaced Apple’s own expectations and that a lack of flexibility in the supply chain is making it more difficult to