Tim Cook confirms Apple raising device prices amid chip shortages
Apple is planning to bump up prices on some of its devices because memory and storage chips are getting harder and pricier to find, CEO Tim Cook confirmed in an interview with The Wall Street Journal.
The company hasn't said exactly which products will get more expensive or when, but the Mac Mini has already jumped from $599 to $799.
AI demand strains DRAM and NAND
The main culprit is a global chip shortage, fueled by AI companies snapping up DRAM and NAND flash storage.
Big manufacturers like Samsung and SK Hynix are now prioritizing business clients over regular consumers, making things even tighter for brands like Apple.
Experts say the cost of key parts for the iPhone 17 Pro could go up four times by fall, possibly leading to a $200 price hike, so that phone is currently charged at around $1,099.
All this highlights how supply chain headaches and rising costs are forcing Apple (and probably other tech brands) to rethink their pricing.