Apple CEO Tim Cook has warned that the company faces a significant global memory shortage, which will continue to impact its business. This comes after both Meta and Microsoft reported that higher memory prices contributed to their increased forecasts for capital expenditures for the year. Microsoft CFO Amy Hood anticipates a $25 billion impact from higher component prices. The shortage of memory is due to demand for AI chips and data centers, making it more expensive for consumer devices like PCs and smartphones. Apple's revenue growth of 17% exceeded its guidance despite supply constraints. The company's future will be decided by incoming CEO John Ternus, who will take over from Cook in September. Analysts suggest that Apple may consider longer-term supply agreements to secure more favorable pricing.