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Apple plans to raise product prices due to a sharp jump in memory-chip costs, CEO Tim Cook told The Wall Street Journal. The outgoing CEO said price increases are "unavoidable" and called the current memory-chip situation "unsustainable." He did not specify a timetable, which products will be affected, or whether the likely September launch of the iPhone 18 will see higher pricing.
Memory chips are essential components in smart devices like mobile phones, but the boom in artificial intelligence has driven up their prices in recent months.
"We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable," Cook told the WSJ.
"There's less supply at a time when consumers want devices and the memory guys are passing along huge price increases," said Cook, who is due to be replaced by John Ternus as Apple's CEO in September after 15 years in the role.
"We definitely need memory pricing and supply to return to reasonable levels for consumer products. That's the bottom line."
Cook's comments come after other technology giants have highlighted pressure in the chipmaking industry.
Earlier this year, Samsung said that it expects memory chip supply shortages to raise the prices of electronic devices.
The price of Ram has more than doubled since October 2025. In addition to rising AI demand, the war in Iran has also disrupted the global supply of helium, a gas crucial in making semiconductors, adding to the cost of computer chips.
The iPhone 17 has been popular since the lineup was launched last September. Sales of Apple devices grew by 17% in the first three months of 2026 compared to the same period a year ago, helped by strong demand in China.
