Apple raising prices, CEO says
AI Summary
Apple CEO Tim Cook announced that the company must raise prices on its products due to escalating memory chip costs driven by the artificial intelligence boom. As tech companies redirect semiconductor supplies toward AI infrastructure, component costs for consumer electronics have surged beyond levels Apple can absorb. Cook described the situation as unsustainable, indicating the company had previously shielded customers from cost increases but can no longer do so.
Apple CEO Tim Cook told The Wall Street Journal in an interview that his company is raising its prices.
In an interview published Wednesday by the Journal, Cook said the tech company is set to increase the prices of its products in an attempt to counteract rising memory and storage chip costs.
“Unfortunately, price increases...
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