Apple confirms iPhone 18 price hikes due to AI-driven memory and storage cost surge

Summary

Apple has confirmed significant price hikes across most of its products, with the iPhone 18 expected to see particularly steep increases. The company attributes the rising costs to an unprecedented surge in demand for memory and storage components, driven largely by the rapid expansion of AI data centers. CEO Tim Cook had previously warned consumers about impending price increases, and Apple now states it can no longer absorb the rising component costs. Analysts warn that the iPhone 18 price hike could be even worse than initially anticipated, as the memory and storage market continues to experience extraordinary price pressures.

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