Apple may raise iPhone prices as AI chip costs surge, Tim Cook’s big warning

Apple says product prices may go up because a key part used in its devices has become much more expensive. According to Apple CEO Tim Cook, the company is facing major cost pressure from memory and storage chips used in products like iPhones, Macs, and iPads, as per Tim Cook interview with The Wall Street Journal.

The problem is mainly linked to the rapid growth of artificial intelligence (AI).