Apple posted record sales as CEO Tim Cook stepped down, but the company flagged a looming supply crunch that could weigh on future results. Cook warned that a shortage of chips, referred to internally as RAMaggedon, is creating supply chain headwinds for the business. The timing is notable: record revenue and a leadership transition are happening just as a key component constraint emerges. RAMaggedon refers to a tightening in RAM chip supply, which is critical to nearly every Apple product line including iPhones, Macs, and iPads. A shortage of this component could limit how many devices Apple can build and ship, directly pressuring revenue and margins in coming quarters. Investors and analysts will be watching whether Apple's new leadership can navigate the supply crunch while sustaining the sales momentum Cook leaves behind. The severity and duration of the shortage, and how Apple manages supplier relationships through the transition, are the key variables to track.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
