Apple shares fall 5.3% after global device price hikes
Apple's stock dropped 5.3% to $277.67 on Thursday, its sharpest fall since February.
The reason? Apple just raised prices worldwide on MacBooks, iPads, Vision Pro, and HomePod.
The company says rising memory and storage costs (thanks to booming AI data centers) forced their hand.
As Apple put it, the company has "shielded our customers from these increases so far, but we have now reached a point where we need to begin raising prices on a number of products."
Detailed Apple device price increases
If you're eyeing a new device, brace yourself: the entry-level MacBook Neo now starts at $699 (up from $599), the 16-inch MacBook Pro is $2,999 (previously $2,499), and the base iPad is now $449 instead of $349.
The 11-inch iPad Pro jumped to $1,199 (from $999), the Vision Pro headset starts at $3,699 ($200 more than before), and even the HomePod standard model is up to $349.