Apple plans price hikes as AI lifts chip costs (opens in new tab)

Apple plans to raise prices on its products because rising memory and storage-chip costs have become too expensive for the company to absorb, CEO Tim Cook said in an interview with The Wall Street Journal published Wednesday. Cook did not say when prices would rise, how large the increases would be or which products would be affected. The pressure stems from AI-driven demand for data centers, which has pushed consumer-electronics companies into tighter competition for memory components used i...