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As Tim Cook steps down, Apple hit record sales — but a chip shortage looms

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Apple reported a record quarter on Thursday. Yet outgoing CEO Tim Cook warned of some gathering storm clouds in the form of memory chip supply issues that could impact business in the near future.

“Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment,” Cook said during Thursday’s earnings call. “iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup.”

Less rosily, Cook relayed that Apple spent more on memory chips in March than in previous quarters though the company’s costs were offset by its ability to sell stockpiled inventory. But, he warned, the expectation is “significantly higher memory costs” in June and beyond — the likes of which may “drive an increasing impact” on the business.

Cook was referencing what has commonly been called “RAMaggedon,” the trend of the AI industry guzzling up memory chips with such astonishing gusto it is spurring shortages. This is driving up the prices of hardware. Apple is primarily a hardware company, so that’s obviously not great news for its core products.

Most notably, the chip shortage has impacted the iPhone. Despite the strong sales figures touted by Apple on Thursday, it has previously been reported that RAM costs have quadrupled — impacting phone production costs, and putting John Ternus, Apple’s incoming CEO in a less-than-enviable position.

One possible result may be that Apple increases prices for the iPhone. “There’s just a little less flexibility in the supply chain at the moment for getting more parts,” Cook told Reuters on Thursday.

Ternus, who has served as Apple’s senior vice president of hardware engineering, was on Thursday’s earnings call and praised Cook. “In my view, Tim is one of the greatest business leaders of all time. Stepping into the role of CEO is an incredible honor, and it means a great deal to me to have Tim’s trust and confidence,” Ternus said.

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He will obviously have his work cut out for him when he begins the job on September 1. But he will still have Cook’s supply chain experience to lean on for a while. Cook will become executive chairman.

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APC Election Officials Break Silence on Pankshin/Kanke/Kanam Primary Dispute

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Controversy surrounding the All Progressives Congress (APC) House of Representatives primary election for the Pankshin/Kanke/Kanam Federal Constituency has taken a new turn, with officials who conducted the exercise alleging attempts by some aggrieved aspirants to undermine the credibility of the election.

The allegations were made on Tuesday during a press briefing in Jos by members of the Forum of Ward Presiding Officers, Local Government Collation Officers and Constituency Collation/Returning Officers.

Speaking on behalf of the forum, its Chairman, Chinwatda Tapar, claimed that some aspirants approached election officials after the May 16, 2026 primary and urged them to sign affidavits containing accounts that contradicted what transpired during the exercise.

According to Tapar, some officials were allegedly offered financial inducements, while others faced intimidation and sustained pressure in a bid to secure their cooperation.

“Our duty was to conduct a free, fair and credible election, not to become instruments in any post-election effort aimed at distorting the truth,” he said.

Tapar explained that the election officials were appointed by the APC National Secretariat through the committee constituted to conduct the party’s 2026 National Assembly primary elections in Plateau State, headed by Hon. Stella Okotete.

He stated that the committee deployed them to oversee the Pankshin/Kanke/Kanam Federal Constituency primary, which, according to him, was conducted peacefully, transparently and in compliance with the APC constitution and electoral guidelines.

He maintained that the election produced a winner who was duly declared and returned after the collation of results.

The forum further disclosed that it had retained information relating to the alleged approaches made by the aggrieved aspirants and would present the evidence to law enforcement agencies, the APC leadership or any court of competent jurisdiction if required.

The officials urged party members and stakeholders to channel any grievances arising from the primary election through lawful and democratic processes rather than attempting to influence election officials.

“Our responsibility as Ward Presiding Officers, Local Government Collation Officers and Constituency Collation/Returning Officers ended with the successful conduct of the primary election and the declaration of its outcome,” Tapar added.

The forum reaffirmed its commitment to truth, fairness, due process and the democratic principles of the APC, insisting that it would not participate in any effort to compromise the integrity of the primary election or distort the facts surrounding its conduct.

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2027: Oyo ex-Deputy governor, Arapaja dumps Makinde, meets APC chieftains

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Reports reaching DAILY POST from the camp of a former deputy governor of Oyo State, Alhaji Taofeek Arapaja, indicate that Arapaja has perfected plans to join the All Progressives Congress, APC, ahead of the 2027 general elections.

It was gathered that the planned defection is coming a few hours after the former lawmaker met President Bola Tinubu.

Arapaja met Tinubu in Abuja two days ago, after which he also met some chieftains of APC from Oyo State at his residence in Abuja on Tuesday.

The meeting was attended by the gubernatorial candidate of APC in the state, Barrister Sharafadeen Alli, deputy gubernatorial candidate, Mr Adesoji Adedeji and Oyo South Senatorial candidate of the party, Hon Aderemi Oseni, Arapaja’s loyalists and supporters; and other notable personalities from the State.

Sources at the meeting disclosed it centred on the planned defection of Arapaja to APC.

Both Makinde and Arapaja belong to the same faction of PDP until recent moves by Arapaja to join APC.

Arapaja has been a close ally of Makinde since the inception of his administration in 2019.

He had earlier served as National Vice Chairman (South West) and later served as Deputy National Chairman (South) for the Peoples Democratic Party, PDP.

He also serves as National Secretary of a PDP faction loyal to Makinde.

Arapaja, who hails from Idi Arere in Ibadan, has been in active politics since the inception of this current fourth republic in 1999.

He served as Chairman of Ibadan South East Local Government Area between 1999 and 2002.

Arapaja represented Ibadan North East/ Ibadan South East federal constituency on the platform of PDP between 2003 and 2007 and later served as Deputy Governor when the late Adebayo Alao-Akala was the Governor between 2007 and 2011.

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