{"id":856,"date":"2026-11-03T21:15:37","date_gmt":"2026-11-03T21:15:37","guid":{"rendered":"https:\/\/bugleblast.com\/?p=856"},"modified":"2026-11-03T21:15:37","modified_gmt":"2026-11-03T21:15:37","slug":"apple-stock-sinks-memory-chip-crisis-ternus-margins","status":"publish","type":"post","link":"https:\/\/bugleblast.com\/?p=856","title":{"rendered":"APPLE JUST GOT CRUSHED BY THE MEMORY CHIP CRISIS! | Ternus&#8217;s first earnings call warns of &#8216;unprecedented&#8217; DRAM prices \u2014 holiday margins guided to 45\u201346%"},"content":{"rendered":"<p>MEMORY ATE THE MARGIN! Apple stock slid about <strong>3%<\/strong> Tuesday after new CEO John Ternus&#8217;s first earnings report warned that soaring memory-chip costs will squeeze holiday-quarter profits, <a href=\"https:\/\/www.cnbc.com\/2026\/11\/03\/apple-earnings-john-ternus-faces-first-test-amid-high-memory-costs.html\">CNBC<\/a> reported.<\/p>\n<p>Apple beat on revenue and earnings Monday \u2014 September-quarter revenue hit a record <strong>$114.5 billion<\/strong> \u2014 but CFO Kevan Parekh guided December-quarter gross margin to <strong>45%\u201346%<\/strong>, below the 46.3% analyst average per LSEG. At the midpoint that would be Apple&#8217;s lowest gross margin since fiscal Q4 2023.<\/p>\n<p>&#8220;What we&#8217;re seeing with memory pricing right now is <strong>unprecedented<\/strong>,&#8221; Ternus said, adding costs will keep rising beyond December. Parekh blamed higher memory prices plus some Siri AI ramp costs. September gross margin was <strong>47.9%<\/strong>, helped by about 1 point of tariff refunds.<\/p>\n<p>Apple raised iPhone prices <strong>$100<\/strong> in September &#8220;reluctantly,&#8221; Ternus said, after earlier Mac and iPad hikes. COO Sabih Khan said manufacturing purchase commitments jumped <strong>$33 billion<\/strong> from June to September to lock supply, and Apple still expects holiday iPhone and Mac constraints driven by memory. AI servers are vacuuming up RAM; phone and PC makers are left fighting for scraps.<\/p>\n<p><em>Featured image: AI-generated editorial illustration by Bugle Blast.<\/em><\/p>\n<p><strong>Sources:<\/strong> <a href=\"https:\/\/www.cnbc.com\/2026\/11\/03\/apple-earnings-john-ternus-faces-first-test-amid-high-memory-costs.html\">CNBC<\/a>, <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/apple-shares-slide-as-higher-memory-costs-fuel-margin-concerns-4994517\">Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ternus&#8217;s first earnings call warns of &#8216;unprecedented&#8217; DRAM prices \u2014 holiday margins guided to 45\u201346%<\/p>\n","protected":false},"author":1,"featured_media":855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/bugleblast.com\/wp-content\/uploads\/2026\/11\/bb-apple-memory-margins-1103.jpg","_links":{"self":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=856"}],"version-history":[{"count":0,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/posts\/856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=\/wp\/v2\/media\/855"}],"wp:attachment":[{"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugleblast.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}