Apple Will Raise Prices Due To Soaring Memory Costs: CEO Tim Cook Says 'This Is A 100-Year Flood'

Apple CEO Tim Cook announced the company will raise prices across its product lineup due to skyrocketing memory and storage component costs. Cook described the situation as a "100-year flood," citing a dramatic reallocation of DRAM and NAND supply toward AI infrastructure by major tech companies. Memory chip prices have quadrupled as companies like Google, Microsoft, Meta, and Amazon expand AI capex.