1741 ET - Apple says higher memory costs are squeezing margins. The company expects operating expenses in the current fiscal first quarter to be $20.4 billion to $20.8 billion, which would be ahead of the $20.26 billion analysts are anticipating. The higher costs are mainly related to rising memory prices, as well as some expenses related to ramping Siri AI, Chief Financial Officer Kevan Parekh tells analysts on a call. During the fourth quarter, which just ended, higher memory costs put pressure on the gross margin for both the overall company and the products business. Both margins would have been narrower had it not been for tariff refunds, Parekh says.