Everybody above the fab is a tenant Olaoluwa Oluwasanya 7 min read Just now Just now The wafer is the whole story A console is really just a processor, some fast memory, and storage, bundled together and sold at a thin margin. When the chips inside get more expensive, so does the console, because that thin margin was never big enough to hide the cost. And the chips got a lot more expensive. Microsoft said it plainly in its own price notice: memory and storage now cost more than 2.5 times what they used to, ...