Apple faces AI memory crunch with upcoming iPhone lineup

Summary

CNBC's MacKenzie Sigalos reports on Apple's plan to release five new iPhone models through 2027, including its first foldable, driving a 50% jump in memory demand for AI features. Tim Cook is pressing to secure memory supplies before stepping down, including talks with blacklisted Chinese suppliers. Apple stock rose 4% on the news, helped by locked-in long-term supply contracts.

• Apple planning at least five new iPhone models through early 2027, including a foldable.
• Memory demand expected to rise by up to 50% for AI features in upcoming iPhones.
• Apple raising Mac and iPad prices but holding iPhone pricing steady.
• Tim Cook intensifies supply chain negotiations ahead of his departure.
• Apple reportedly in talks with Chinese memory suppliers that are on Pentagon and Commerce blacklists.
• Micron signed 15 long-term contracts, with phone makers among the unnamed clients.
• Apple stock up 4% on supply chain deal lock-ins.