Apple CEO John Ternus said the company's first foldable phone, the iPhone Duo, remains in short supply. The production ramp-up is proceeding smoothly, but it is still too early to predict when supply and demand will come into balance. The device has sold strongly since its October launch, and the company is working to speed up deliveries. Apple's component costs have climbed amid surging AI-related memory demand. The impact of higher memory costs has been partly offset by inventory gains and declining costs for some non-memory components; Apple recently raised prices for the iPhone 17 and MacBook, which has also helped ease cost pressure. Ternus also showcased the new version of Siri, rebuilt from the ground up and now handling an average of 2.5 billion requests per day. The more personalized Siri was originally slated to launch in 2024 but was delayed several times. Apple reported its first quarterly earnings since Ternus took over as CEO on November 2 local time, posting fiscal fourth-quarter revenue of $114.5 billion.