Apple says AI demand, chip shortage raise prices, Tim Cook
Technology
Apple just announced that prices are going up, thanks to a chip shortage.
CEO Tim Cook says the rising costs of memory and storage, mostly because artificial intelligence is gobbling up supply, means Apple has no choice but to adjust prices.
iPhone 18 Pro faces $200 hike
If you're eyeing the new iPhone 17 Pro, expect the iPhone 18 Pro to cost about $200 more than before (analysts think it could hit $1,371).
Future models like the iPhone 18 Pro could also get pricier.
The price hikes aren't just limited to phones: other upcoming devices like Apple Watches could also get pricier when they launch in September.