Amid the generative AI craze, Apple has hit a snag with soaring memory component costs, leading it to stockpile billions in inventory. CEO Tim Cook, calling this 'a hundred-year flood on memory pricing,' warns of severe supply chain constraints.

The company reported its strongest June quarter ever, yet faces mounting challenges securing crucial components for its Apple silicon chips, driving up the price of Macs and iPads last month by a reluctant margin.

With revenue growth forecasts dropping to 9-11% year-over-year from a usual 16%, investors are on edge. Apple’s stock took a hit in after-hours trading as concerns grow over potential supply shortages impacting future performance.

No one is immune, with tech giants like Meta, Samsung, Microsoft and Sony also raising hardware prices to cope. It seems the age of tech abundance may be drawing to a close, leaving all players scrambling for parts.