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00:02Apple plans to raise product prices to offset surging memory and storage chip costs,
00:07according to Reuters.
00:08AI-driven demand for data center components has intensified competition for chip supplies,
00:13pushing costs sharply higher.
00:16CEO Tim Cook told the Wall Street Journal that Apple has tried to shield customers from the
00:21increases but called the situation unsustainable.
00:24Cook, who will hand over leadership to John Ternus in September,
00:28did not specify which products will be affected, when prices will rise, or by how much.
00:33He cited the DRAM market as a particular concern,
00:36noting more supply is flowing to high-bandwidth memory used in AI servers.
00:41He said Apple is willing to use its balance sheet to help expand memory supply
00:44but has no plans to build its own memory or storage factories.
00:47Apple has no plans to build its own memory or storage factories, Cook said.
00:51For all things money, visit Benzinga.com.
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