Tim Stenovec

So on the call, that will come up.

The sell side are likely to ask about it.

Well...

It's not just that memory prices are high.

The reason that memory prices are high is that historically memory, DRAM and NAND, flash memory, is a very cyclical up and down business.

Boom and bust, you know, that's what Ian King would say, boom and bust.

Ian King leads our semiconductor coverage, right, at Bloomberg.

And it is correct that Apple's supply chain teams are its secret source.

That was Tim Cook's whole thing.

He was COO.

That's what he was good at.

But the reason prices are high is because of scarcity of availability.

Because there is such demand for equivalent chips that are going to data centers.

And so Mark's answer is appropriate.

Apple has leverage and the ability of scale to say, okay, we have got ahead of this.

And one would imagine that their supply chain team is sophisticated enough...

to have foreseen some of the things that we're now experiencing in that market.

I am not Bloomberg's Mark Gurman.

But what I would say, right, is that when Mark did that recent reporting, and it's been over a period of time about which executives are now more at the forefront of Apple's future, he was crystal clear in that reporting that there is no suggestion that Tim Cook being replaced or stepping down or retiring is imminent.

that this was a longer term thing.