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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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'I will vote for Peter Obi as social media president' – Wike taunts NDC candidate

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Federal Capital Territory, FCT, Minister Nyesom Wike has taunted the 2027 presidential candidate of the Nigeria Democratic Congress, NDC, Peter Obi, saying the former Anambra State governor can only win the coming election on social media.

Speaking at a stakeholders’ town hall meeting in Bonny Local Government Area of Rivers State on Saturday, Wike said he would vote for Obi if the election were to choose a social media president but insisted that the NDC candidate could not govern Nigeria.

“Truly speaking, I give Obi president of social media. If you were voting for the president of social media, I would vote for him,” he said.

Wike also described Obi as a stingy politician whom the country's economy cannot be entrusted to.

DAILY POST reports that the Minister, who is heading the All Progressives Congress, APC, presidential campaign in Abuja and Rivers has always criticized Obi and other candidates.

He had also expressed confidence that President Bola Tinubu would be re-elected in the January 16 election, dismissing the chances of the opposition.

‘I will vote for Peter Obi as social media president’ – Wike taunts NDC candidate

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Injury Heartbreak for Aruna Quadri! Nigerian Star Retires Against Egypt’s Elbeiali in ITTF Africa Championships Round of 16

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Nigeria’s table tennis star Aruna Quadri suffered a heartbreaking exit from the 2026 ITTF Africa Senior Championships in Tangier, Morocco, after an injury forced him to retire during his men’s singles Round of 16 encounter against Egypt’s Mohamed Elbeiali.

Sports247 reports that the highly anticipated contest ended prematurely after Aruna, who had been battling his Egyptian opponent in a closely contested match, became unable to continue despite attempting to play through the discomfort.

The setback brought an unfortunate conclusion to the Nigerian’s campaign, ending his hopes of progressing to the quarterfinals. The encounter had been evenly balanced, with both players winning a game apiece before the injury disrupted proceedings.

With the match tied at 1-1 and the third game locked at 10-10, Aruna experienced physical discomfort that required medical attention. The Nigerian star requested a medical timeout before returning to the table in an attempt to continue the contest.

However, Elbeiali eventually secured the third game to establish a 2-1 advantage. Despite Aruna’s determination to remain competitive, the injury continued to affect his participation.

The Nigerian ultimately retired from the encounter, handing Elbeiali passage into the quarterfinals.

Aruna had entered the Round of 16 following victory over an Angolan opponent, keeping alive his ambition of challenging for another continental title. His meeting with Elbeiali represented an important test against a familiar Egyptian opponent.

However, the injury prevented the Nigerian from completing the contest and competing for a place among the tournament’s final eight players. The retirement was particularly disappointing considering how closely matched both players had been before the interruption.

The setback shifts attention towards Aruna’s recovery, with the extent of the injury yet to be established. For the experienced Nigerian international, regaining full fitness will be essential before returning to competitive action.

Aruna remains one of Nigeria’s most accomplished table tennis players, having represented the country at major international tournaments and established himself among Africa’s leading competitors.

His unexpected withdrawal represents a disappointing development for Nigerian table tennis supporters who had hoped to see him progress further in Tangier.

Although his campaign ended earlier than anticipated, Aruna’s determination to continue after receiving medical attention demonstrated his competitive spirit. The immediate priority will now be his recovery and a safe return to the table.

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