AAPL · 10-Q · 2026Q2 · Full report

Supply Constraints and Memory Cost Pressure

Apple Inc. · 2026-07-31 · Importance 52 · Surprise 42

Apple is experiencing supply constraints and increasing component costs driven by supply-demand imbalances for advanced semiconductors, NAND and DRAM; the company expects these trends to intensify and may materially negatively impact revenue, costs, gross margin and results of operations. The filing explicitly cites higher costs, including memory, as a partial offset to gross margin improvement and warns that these cost trends could continue. Apple notes that tariff refunds partially offset higher costs in the period but emphasizes future gross margins remain subject to volatility and downward pressure. The timeframe covers current conditions in fiscal 2026 and anticipates continuation into future periods.