Apple to raise product prices amid memory chip cost surge

Apple CEO Tim Cook has confirmed that price increases for the company's products are unavoidable, citing a severe and sustained surge in memory chip costs driven by demand from artificial intelligence infrastructure. Cook made the announcement in an interview published on Wednesday, June 17, 2026.

Cook stated that Apple has been trying to absorb the rising costs to shield customers but can no longer sustain that approach. He described the commodity swing as unprecedented in his over four decades in the electronics supply chain, calling it a "100-year flood." The primary issue is a shortage of DRAM and storage modules, as chip manufacturers prioritize supplying high-bandwidth memory for AI servers over consumer electronics makers.

The impact is already being felt. Apple raised the starting price of the Mac Mini desktop computer last month, increasing it by $200 while also doubling the base storage. According to Cook, this is not an isolated adjustment but reflects a new market reality. Further price increases for other Mac models and iPads could occur in the coming months, even before Apple's next major product launch.

That launch, anticipated for September, is expected to feature...