Apple will increase prices for its products

Apple plans to raise prices on its products to offset the soaring costs of memory chips and storage, outgoing CEO Tim Cook told the Wall Street Journal.

A surge in demand for artificial intelligence data centers has forced manufacturers from other industries into fierce competition for increasingly tight supplies of key components, sending prices soaring. This applies to the automotive sector, electronics and electrical equipment manufacturers, etc.

“Unfortunately, price increases are inevitable,” Cook told the WSJ. “We are doing everything possible to contain the huge premiums that are being passed on to us; We tried to protect our customers from this growth, but the situation has become untenable.”