Apple CEO Tim Cook gestures as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, U.S. Sept. 9, 2025.

Manuel Orbegozo | Reuters

The global memory crisis played an outsized role in tech earnings season, which hit an apex this week. Apple CEO Tim Cook warned it's just the beginning.

"We believe memory costs will drive an increasing impact on our business," Cook said in the Q&A portion of his company's earnings call on Thursday after repeatedly telling analysts that the company faced "supply constraints" in the latest quarter.…