AI is hurting Apple in more ways than one: it may force iPhone price increases (opens original article in a new tab)

Apple may increase prices for its devices, including the iPhone, due to a global memory chip shortage driven by AI demand, with CEO Tim Cook warning of unavoidable cost hikes.

• AI's demand for hardware has caused a global memory chip shortage
• Apple CEO Tim Cook warns of unavoidable price increases for Mac, iPhone, iPad due to rising chip costs
• Apple may raise iPhone prices to maintain profit margins, with potential increases of $270 for the iPhone Pro
• Apple faces pressure to develop AI strategy after previous AI feature failures and a $250 million settlement
• More on-device AI processing could lead to higher consumer costs for Apple products