Apple set to bite consumers with price hikes

June 19, 2026 (MLN): Apple is set to raise prices across its product lineup as soaring memory and storage chip costs driven by intense AI-related demand from data centers  leave the company with little room to absorb further increases.

Chief Executive Tim Cook said the situation had become unsustainable, telling the Wall Street Journal that Apple had been working to shield customers from rising component costs but could no longer do so.

 "Price increases are unavoidable," he said, adding that the company was doing its best to mitigate the steep increases being passed down the supply chain, APP reported.

Tim Cook did not specify when the price adjustments would take effect, which products would be affected, or the scale of the increases.

The broader pressure stems from a surge in AI-driven demand from data centres, which has pushed consumer electronics manufacturers into fierce competition for shrinking supplies of key components, sending prices sharply higher.

Copyright Mettis Link News