Apple price rises are ‘unavoidable’, CEO warns, as AI chip costs surge

Apple's CEO, Tim Cook, has acknowledged that price hikes are inevitable as the company can no longer shoulder the escalating costs of memory chips, which are surging due to the artificial intelligence boom. This situation not only signals higher prices for Apple's consumers but also sparks broader inflation concerns within the tech sector. The implications extend beyond Apple, potentially affecting the entire industry's pricing strategies and consumer expectations, making this a significant development in the tech world.