Apple CEO Tim Cook warns of extended memory crunch. 'We'll look at a range of options'

William Kerwin, an analyst at Morningstar, told CNBC in an email that one option for Apple would be to enter into longer-term supply agreements to secure more favorable pricing. He noted that memory maker Sandisk discussed "numerous new agreements just like this" in its earnings call on Thursday. Needham analyst Laura Martin said that while she doesn't know what Cook was referring to in suggesting the company would consider options, it's not great to see capacity constraints "for a company with a core competence in hardware."Wall Street took the news in stride, reacting positively to Apple's forecast for revenue growth this quarter of 14% to 17%, and sending the stock higher. Analysts were expecting growth of 9.5% to $103 billion, according to LSEG.Gil Luria, an analyst at D.A.

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