Tim Cook warns of supply constraints and memory costs as Apple prepares for Siri AI overhaul
Tim Cook, the outgoing chief executive of Apple, stated that the company faces significant supply constraints regarding microchips, which may slow down sales of core products like the Mac, iPhone, and iPad. While demand remains high, the memory crisis—driven by the insatiable demand for AI processors—is forcing Apple to raise prices and manage costs. Despite these hurdles, the company is preparing for a major update to Siri, its AI voice assistant, which is being overhauled with the help of Google's Gemini chatbot. Cook noted that the company plans to charge users who wish to make heavier use of the new Siri, based on feedback from user testing. Across the broader tech landscape, major companies like Alphabet and Meta are currently spending more on AI development than they are bringing in as revenue. While investors are becoming more critical of the heavy capital expenditures, Microsoft and Amazon have shown stronger signs of which these investments are beginning to deliver tangible returns.