Apple’s inventory surges 154% as memory chip costs climb

Apple's inventory has increased to $14.54 billion in the fiscal fourth quarter, a 31.1% jump from the previous quarter and a 154.3% increase from the same quarter in 2025. The company's forecast of a 45-46% gross margin in the December quarter is attributed to higher memory costs, which are expected to continue increasing. Apple's CEO John Ternus stated that memory pricing is 'unprecedented' and will be partially offset by price increases on some devices.