Apple's inventory reached $14.54 billion in its fiscal fourth quarter, up 31.1% from the previous quarter and 154.3% compared with the same period a year earlier. The figures were included in the company's quarterly results.
Rising memory-chip prices are influencing Apple's outlook. The company reported a 47.9% gross margin for the September quarter and forecast a margin of 45% to 46% for the December quarter, citing higher memory costs. CEO John Ternus said the company expects those costs to keep increasing beyond December.
Apple is increasing its memory purchases as it works to improve supply. Ternus said manufacturing purchase obligations rose by $33 billion between the June and September quarters. Price increases introduced earlier this year for some Mac, iPad and iPhone models are also expected to help offset higher component costs.
Supply constraints affected iPad sales, which generated $6.2 billion in revenue--10% below the year-earlier period and under analyst expectations. iPhone and Mac sales, by contrast, exceeded estimates.
Apple's inventory and purchasing decisions highlight how access to key components can shape product availability and financial planning; future supply resilience may influence both the company's margins and its product roadmap.
