Devastating supply crunch forces Apple to raise prices on iPhones and other devices, calling the move 'unavoidable'

Apple's latest price hikes on iPhones and other gadgets come amid a severe supply crunch driving up the cost of essential memory and chip components. Tim Cook acknowledged the move as 'unavoidable' due to these escalating costs. This shift not only impacts consumers but also highlights broader market challenges affecting tech supply chains. As prices rise, it could influence consumer behavior and potentially reshape the competitive landscape for Apple and its rivals.