Apple’s iPhone and Mac sales are on the rise even as a global memory shortage squeezes device makers. In its third-quarter earnings report released on Thursday, Apple revealed that iPhone sales jumped 22 percent to $54.25 billion and Mac sales increased 29 percent to $10.35 billion, driving the company’s overall revenue to $109.4 billion.

This marks Apple’s best third-quarter iPhone revenue, as sales tend to dip ahead of its next major launch event, as noted by Reuters. During an interview with CNBC, Apple CEO Tim Cook attributes the increase in sales to people who were upgrading their iPhones throughout the quarter. “We just had significan …

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