Apple CEO Tim Cook said iPhone price hikes are becoming "unavoidable" due to a global memory chip shortage, which he described as a “hundred-year flood.”
AI data center demand has pushed memory chip prices up more than sixfold in the past year, increasing costs for suppliers like Micron Technology, Samsung Electronics, and SK Hynix.
Bloomberg's Mark Gurman says Apple price increases are "fairly imminent," with the iPhone 18 Pro potentially rising to $1,299 and changes possibly coming as early as next week.
AI data center demand has pushed memory chip prices up more than sixfold in the past year, increasing costs for suppliers like Micron Technology, Samsung Electronics, and SK Hynix.
Bloomberg's Mark Gurman says Apple price increases are "fairly imminent," with the iPhone 18 Pro potentially rising to $1,299 and changes possibly coming as early as next week.