Memory shortage crisis: Apple CEO confirms higher prices are on the way; chip stocks keep soaring

If you’re in the market for a new Apple device later this year, you should prepare yourself for a price increase. That’s not speculation—it’s coming right from CEO Tim Cook’s mouth. This week, Apple’s outgoing chief executive confirmed that the company will raise prices, calling such rises “unavoidable.” Here’s why, and potentially how much more you might pay for a new iPhone when it ships in September. What’s happened? Yesterday, outgoing Apple CEO Tim Cook confirmed that the company...