Outgoing Apple CEO Tim Cook has warned that price increases for Apple products are 'unavoidable' due to surging demand for memory chips driven by the artificial intelligence boom, according to an interview with The Wall Street Journal published on June 18, 2026.
Cook stated that the AI industry's rapid expansion has created a global shortage of high-bandwidth memory (HBM) chips, which are essential for both AI servers and consumer electronics. 'Unfortunately, price increases are unavoidable,' Cook told the Journal, adding that Apple is working to mitigate the impact but cannot fully absorb the rising costs.
The warning comes as Apple prepares to launch its next-generation iPhone lineup later this year. Analysts expect the price hikes to affect a range of products, including MacBooks and iPads, though the exact percentage increase has not been disclosed.
Cook, who is set to step down as CEO later this year, emphasized that Apple remains committed to innovation but must adapt to the changing supply chain landscape. The company has been investing in long-term chip supply agreements, but short-term pressures remain significant.
