Apple Drops 10% as Memory Chip Crunch Bites
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- Apple shares dropped 10% in Friday trading (July 31, 2026) as the memory chip crunch rattled investors.
- Tim Cook spent nearly three decades revolutionizing Apple's supply chain and previously steered the company through tariffs and pandemic shutdowns.
- Cook is departing the CEO role just as Apple faces what the article calls its "most daunting supply-chain bottleneck yet," with seemingly no solutions in sight.
- Apple is scrambling for solutions to component shortages that the source explicitly attributes to the AI boom.
Why it matters: Apple's 10% Friday drop reflects investor reaction to memory chip shortages the source says are exacerbated by the AI boom. Cook's exit comes after nearly three decades of supply-chain mastery, leaving the company to face what the article calls its "most daunting supply-chain bottleneck yet" with seemingly no solutions in sight.
