Apple CEO says price hikes are ‘unavoidable’ as rising chip costs squeeze tech giant: report - Fox Business
Apple CEO Tim Cook has warned that price increases for consumer devices are becoming unavoidable due to rising costs for memory and storage chips. The surge in demand for AI-related hardware has tightened supply, forcing the company to pass costs on to consumers.
Why it matters
As a market leader, Apple's pricing strategy often sets the standard for the broader consumer electronics industry, signaling potential inflation in tech hardware.
video FOX Business Flash top headlines for June 17 Check out what's clicking on FoxBusiness.com.
The article reports on corporate statements and industry trends without taking a political stance or using loaded language.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in