Apple Inc.
(NASDAQ:AAPL) CEO Tim Cook says price increases on the iPhone and other devices are now "unavoidable," as a historic memory chip shortage eats into the company's profit margins.
Cook told the Wall Street Journal that surging DRAM and storage prices have made the situation "unsustainable," calling the cost swing a "100-year flood" he had not seen in over 40 years in the supply chain.
A Squeeze Far Bigger Than Apple The pain is not Apple's alone.
On June 3, nine trade groups spanning retail, autos, telecom and medical devices wrote to Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, warning that AI data centers are monopolizing memory supply and driving sustained consumer price increases.
