An exacerbating chip shortage has made Apple hike up prices for several of its products. Company shares dropped more than 6pc on Thursday.

Tim Cook says Apple’s price increases are ‘unavoidable’ as AI demand for memory chips drives up costs. The Mac mini’s entry price has already jumped.

Tech giant Apple hiked on Thursday the prices for its iPad and MacBooks, saying it could no longer protect customers from rising memory and storage chip...

Apple CEO Tim Cook had earlier warned of price increases due to the memory chip shortage.

By Emily Bary and Christine Ji