Apple CEO says price hikes are ‘unavoidable’ as rising chip costs squeeze tech giant: report
AI Summary
Apple's CEO, Tim Cook, has acknowledged that price hikes are necessary due to surging costs for memory chips driven by high demand for AI. He likened the supply crunch to a "hundred-year flood," indicating the severity of the issue. This move matters because it highlights the broader challenges tech companies face amid global supply chain disruptions and escalating production costs, potentially leading to broader consumer price increases across the tech industry.
Original Source
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