Well, you know what they say. The best time to blow tens of billions you might never get back on a risky memory fab in your home country is ten years ago. The second best time is today!
Why have pants down exposure to the market prices? Specially when they have 300B in the bank and a fab costs what 20-30B?
They are lucky they did not get squeezed out of tsmc too, otherwise they would have to re release the iPhone X in 2027.
What makes it risky? Do you think that Apple will pivot into something that doesn't require RAM? Maybe like an IBM, they pivot to services?