Tim Cook confirmed in a Wall Street Journal interview that Apple will raise product prices, calling the increases unavoidable amid a global memory shortage. The outgoing CEO stated the company is absorbing supplier cost hikes while trying to protect customers, but the situation has become unsustainable. Cook declined to specify timing or magnitude of the increases.

The memory crunch stems from surging demand driven by AI development, creating supply constraints at a time when consumers want devices. Cook noted suppliers are passing along huge price increases for RAM and storage, making it difficult for Apple to maintain current pricing levels. iPhone 18 models expected later this year will likely cost more than predecessors, along with any new laptops and tablets.

Other tech giants including Samsung, HP, Microsoft, Nintendo, and Valve have already addressed similar pricing pressures from memory costs. Cook, with over four decades in the industry, said he has never witnessed such extreme market conditions in any area.

Apple's announcement signals broader industry strain as AI hardware demand outpaces component availability. Consumers should expect higher price tags across premium devices, with the memory shortage affecting production costs throughout the tech sector rather than isolated to one manufacturer.