Apple (AAPL) to Raise Product Prices Soon Amid Chip Shortages

Apple (AAPL) CEO Tim Cook announced that product price increases are "unavoidable" and will occur "soon," not waiting until the fall new product launch. This move is driven by severe shortages and soaring prices of DRAM and NAND flash memory chips, exacerbated by the AI boom. Bloomberg's Mark Gurman confirmed the imminent price hike, potentially aligning with upcoming back-to-school promotions. Cook described the memory supply-demand imbalance as a "once-in-a-century flood," attributing it to AI data centers heavily consuming HBM, which impacts consumer electronics chip supply. While Apple previously absorbed costs, Cook stated this is "unsustainable." TechInsights estimates the next iPhone 18 Pro could start at $1,299 if Apple fully passes on costs, with Mac and iPad lines also potentially affected. Apple has not yet disclosed specific price adjustments or applicable products as of June 21, 2026.