Tim Cook says chip demand will raise Apple device prices

Technology Oct 05, 2026

Apple is planning to bump up prices on its devices, thanks to memory and storage chip shortages.

CEO Tim Cook says the cost of memory and storage chips has shot up, mainly because AI companies are snapping them up.

This means the iPhone 18 Pro could be at least $200 more expensive, and Cook admits it's getting tough to shield buyers from these rising costs.

Mac mini price jumps to $799

Production costs keep climbing: just look at the Mac Mini, which jumped from $599 to $799 already.

With memory prices expected to quadruple by fall, don't be surprised if the iPhone 18 Pro could cost at least $1,399.

Apple's likely to keep adjusting prices during upcoming launches in September as it tries to maintain an estimated 47% profit margin.