Tim Cook: Apple Price Hikes Are Coming and 'Unavoidable'
Apple's CEO warns that surging memory and storage chip costs will force the company to raise prices on its products.
Apple CEO Tim Cook is sounding the alarm. In an exclusive interview with the Wall Street Journal, Cook said price increases across Apple's product lineup are now "unavoidable."
The culprit? Skyrocketing costs for memory and storage chips. Cook didn't sugarcoat it, telling the Journal that "the situation has become unsustainable" for Apple to keep absorbing the hit.
It's a notable admission from a company that has historically resisted passing component cost spikes directly to consumers. Apple has long leveraged its massive purchasing power to negotiate favorable deals with suppliers — but apparently even that leverage has limits.
Cook didn't specify which products would see increases or by how much. But if you've been eyeing a new iPhone, iPad, or Mac, the sticker price is likely heading in one direction: up.