Tim Cook Says Apple Facing Unprecedented Problem: 'I've Never Seen Anything Like It'
Apple CEO Tim Cook this week said that price increases are "unavoidable" due to the ongoing RAM shortage, which has led to skyrocketing prices for memory chips.
"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," said Cook, in an interview with The Wall Street Journal. "I've never seen anything like it in any area in over 40 years," he added.
Cook did not provide a timeframe for Apple's price increases, or indicate if they will apply to any existing products or be limited to future products only. The product lines most likely to be impacted include the iPhone, iPad, and Mac.
The chip shortage is being driven by companies like Nvidia and OpenAI building out AI server facilities. Cook said Apple is facing "significantly higher memory costs," and it appears the company will now pass this on to customers.
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