Tim Stenovec

And Mark's reported a lot about the financials around that, right?

It's a one billion per annum agreement.

we don't and we won't get this sort of announcement like here it is, here's the date it's coming and this is what it can do until it's here.

You know, that's not how Apple operates.

Well, you know, forgive me, because I was blogging.

I didn't hear what you guys were talking about just before.

It's okay.

But in this very limited earnings release and statement, you guys maybe went over the risk factors and forward-looking statements.

Well, in May of last year, I was sat next to you two in the New York studio.

Do you remember?

And we were like, oh, that's interesting.

They've never said that before.

Right.

The only observation I'll make in line with that is that this release also says nothing about the environment for memory chips.

Memory chip prices are very high.

But their margin was pretty good, right?

were pretty good and there's a scarcity and the principal difference is like, this is why it's so fun to cover hardware companies and it's a privilege to be a technology journalist.

When you get access to all these companies and speak to the CEOs, if you're a very big company, you have leverage with your supply base.

If a supplier has to choose, I've got this number of things, and I can only send them here, or I can send them there, or I can split, it helps to be Apple, is what I'm saying.

And there are companies that I've covered whose CEOs will privately just agonize over how difficult it is to convince suppliers to give them the things they need.