Apple, Microsoft blame chip shortage for price hikes on electronic products

Apple and Microsoft have raised prices for some of their electronic products, like computers and XBOX consoles, blaming the global shortage of memory chips. This chip shortage, a lingering consequence of the pandemic, has disrupted supply chains across various industries, leading to increased production costs. These companies' price hikes underscore the broader economic impact of the shortage, affecting not just tech giants but consumers too, as they face higher costs for everyday gadgets. This move reflects the ongoing struggle companies face in balancing supply and demand amid ongoing disruptions.