Apple Stock Hits Record as AI Memory Crunch Hits Budget Phones, IDC Says

Apple shares hit an all-time high on July 13, closing at $317.31 after an intraday peak of $323.45, as an AI-driven memory shortage squeezes low-end smartphone makers. According to BeInCrypto, global smartphone shipments fell 6.7% last quarter, but Apple grew 15.3% and posted record shipments as memory chip prices rose close to 300% over the past year. IDC said Apple and Samsung were the only top-five vendors to grow, up 15.3% and 8.1%, while Xiaomi fell 26.3%, vivo dropped 19.4% and OPPO slid 17.5%. Apple is in talks with Chinese suppliers CXMT and YMTC to source memory for iPhones sold in China and reports earnings on July 30.