The rising cost of memory and chip components is hitting Apple hard, and the company is claiming it 'has no choice' but to hike the prices across its lineup of devices.

Apple plans to raise prices on iPhones, MacBooks, and other devices as CEO Tim Cook warns of surging memory chip costs driven by AI infrastructure demand.

Tim Cook, who will hand over the reins to John Ternus in September, did not disclose when or how much prices might rise, nor which products could be impacted.

The company now says it will have to raise product prices — but how it does so will be telling.

Apple CEO Tim Cook warns of rising prices for iPhones, MacBooks, and iPads due to a global memory chip shortage.