AI is starting to change that dynamic

For years, Apple was more than just a mobile phone manufacturer: it was the customer that everyone wanted to keep happy. The company that could negotiate with suppliers and reserve capacity in advance. But that stage is beginning to break down for a very specific reason: the industry has started buying hardware for artificial intelligence on an enormous scale, and that new appetite is reordering priorities. AI companies are willing to pay more and secure supplies up front, a shift that is beginning to put pressure on something Apple has protected like a treasure: its margins.

Memory, the bottleneck. The easiest example to understand is in something as everyday as the storage and speed of the iPhone. It’s no secret that memory chips are in short supply due to the explosion of AI, and that is pushing prices up. Tim Cook dropped it in the last earnings call acknowledging limitations in chip supply and that memory prices were rising “significantly.”

Not so comfortable terrain. The Wall Street Journal points out that AI giants are willing to close agreements with very attractive conditions for suppliers, including the possibility of securing supply with firm commitments and advance payments. This context gives room for companies like Samsung Electronics and SK Hynix to raise prices on certain DRAM chips destined for Apple. Even on the less visible plane there is friction: many engineers who previously worked on improving displays for smartphones now also spend time on specialized glass for packaging advanced AI chips. It’s a silent fight for capacity and attention.

Alternative to TSMC. The newspaper says that TSMC is doing more business with NVIDIA and other AI companies. Consequently, according to anonymous sources with knowledge of the plans, Apple would be exploring the option of manufacturing some less advanced processors with another supplier. No name has yet been released, but it would be a fairly important change in the Cupertino company’s supply chain.

How it affects us. In the short term, the blow is taken by the income statement: if components rise, margins suffer, even in a company used to working with ease. For the consumer the scenario is more ambiguous. The well-known analyst Ming-chi Kuo estimates that Apple would not expect to raise the price of the next iPhone if they are equipped in a similar way to the iPhone 17. That doesn’t take the pressure off, but it suggests that adjustment could come through other avenues, from configurations to tighter margins.

Images | Apple

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