Speaking ahead of the expected launch of the iPhone 18 series, Cook said that the company is trying its best to shield customers from price increases, but added that current market conditions are becoming increasingly unstable.
He warned that higher prices are becoming unavoidable as the cost of key components continues to rise. However, he did not specify which products would be affected or how much the prices could increase.
Exclusive: Apple plans to raise prices. CEO Tim Cook called the move "unavoidable" because the AI boom is driving up chip costs. https://t.co/Fw3Wm0WNEB
— The Wall Street Journal (@WSJ) June 17, 2026
Reports suggest that the iPhone 18 lineup, expected in September, could see price hikes of up to $200 compared to the iPhone 17 series. According to the Wall Street Journal, memory and storage components in the iPhone 18 Pro alone could cost Apple around $150 more than previous models.
Apple is among the largest buyers of memory chips, but competition from AI companies has also driven up demand and contributed to supply constraints.
