00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple shares fell 6.12% Thursday for their worst one-day performance in more than a year
00:08after the company raised prices on several major products, citing a memory crunch tied to the AI
00:14boom. According to NBC News, the move wiped out about $265 billion in market value,
00:20though Apple remains worth more than $4 trillion. Apple raised prices for the MacBook Neo,
00:25MacBook Air, iMac, iPad, and Apple TV, with some increases reaching $200.
00:31It did not raise prices on the iPhone, Apple Watch, or AirPods. Apple said rapid AI data center
00:37expansion has driven an extraordinary surge in memory and storage demand. Microsoft's Xbox division
00:43raised console prices because storage and memory costs have more than doubled and are expected to
00:48double again by fall 2027. Analysts said Apple's price hikes were broader and larger than expected.
00:54signaling that memory cost pressures are rising faster than even Apple can absorb and could hurt
00:59sales. For all things money, visit Benzinga.com.
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