GoKawiilApple inventory jumps 154% year-over-year as memory costs squeeze margins
Apple's fiscal Q4 earnings showed inventory, led by computer memory, rising 31.1% quarter-over-quarter to $14.54 billion and 154.3% year-over-year from $5.72 billion. Executives said higher memory costs will pressure gross margin, forecasting 45%-46% for the December quarter versus 47.9% in September. CEO John Ternus called current memory pricing conditions 'unprecedented' and said purchase obligations rose $33 billion from June to September.
GoKawiil's interpretation of the reporting above, not reported fact.
The surge in stockpiling suggests Apple is racing to secure memory supply ahead of expected further price hikes, which could squeeze margins into next year if costs keep rising as Ternus indicated. Apple's earlier price increases on Mac, iPad and iPhone show it is already passing some costs to consumers, and COO Sabih Khan's refusal to rule out further increases hints more could follow.
- Apple's inventory grew 154.3% year-over-year to $14.54 billion in fiscal Q4.
- Gross margin guidance for December quarter dropped to 45%-46% from 47.9% in September due to memory costs.
- Manufacturing purchase obligations rose $33 billion from June to September as Apple secures component supply.
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