AI is hurting Apple in more ways than one: it may force iPhone price increases

It’s been called RAMageddon: AI’s insatiable demand for hardware has caused a worldwide shortage of memory chips. Now outgoing Apple CEO Tim Cook is warning its customers that your next Mac, iPhone, or iPad could be more expensive thanks to surging memory and storage chips costs.

In a recent interview, Cook told the WSJ that price increases are “unavoidable,” in spite of efforts to absorb chip costs that have increased fourfold since last year. He described the situation as “unsustainable.”