Apple to raise prices due to memory chip costs
Summary
Apple CEO Tim Cook said the company will raise product prices because memory chip costs have risen a lot. He said the situation is unsustainable due to higher demand for memory chips and supply problems and did not specify when or which products will be affected.Key Facts
- Apple plans to increase prices because memory chips have become more expensive.
- Tim Cook called the price rises "unavoidable" and said the situation is "unsustainable."
- Memory chips are key parts of devices like smartphones and have grown costly due to AI demand.
- The price of RAM, a common computer memory, has more than doubled since October 2025.
- Supply issues, including the war in Iran affecting helium (used to make chips), have increased chip costs.
- Apple has not said which products will see price hikes or when they will happen.
- The iPhone 17 has sold well, and Apple’s device sales grew 17% in early 2026 compared to last year.
- Tim Cook will step down as CEO in September, with John Ternus set to replace him.
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