Apple plans to raise prices due to rising chip costs

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The artificial intelligence boom is forcing Apple to raise its product prices. Tim Cook, Apple's outgoing chief executive officer, confirmed to the Wall Street Journal that price increases were "unavoidable" as surging memory chip prices and the situation around them have become "unsustainable."

Cook did not specify the timeframe of the price hikes, but the company is expected to launch its newest version of the iPhone in September. Memory chips are considered essential components of devices like smartphones, but the increased demand for AI-related infrastructure and products has driven their prices higher. This effect is compounded by the ongoing geopolitical uncertainty in the Middle East. 

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Tim Cook to step down as Apple CEO in September

Source: Apple

There will be a shuffle within Apple's top executive posts. Apple Chief Executive Officer Tim Cook is transitioning to executive chairman of the tech giant's board of directors. Meanwhile, Senior Vice President of Hardware Engineering John Ternus will succeed Cook, effective on September 1, 2026.

SOURCE

Tim Cook teases upcoming iPad release

Apple CEO Tim Cook is not dropping subtle hints about the company's latest product release. He all but confirmed that new iPads are coming, which we are expected to see today. He sent out a tweet with the words: "The possibilities are endless. #TakeNote" and an animation showing the pinch-to-zoom gesture as it goes through multi-coloured graphics and icons.

Apple is expected to introduce new iPad and iPad Pro models, but it isn't hosting an event. Instead, the new products will be released via press release.

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Apple CEO Tim Cook calls out a report that Jony Ive’s leaving the company on bad terms

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Apple CEO Tim Cook wanted to set the record straight about a recent Wall Street Journal story that claims there is tension between the company and departing Chief Design Officer Jony Ive. He calls the report “absurd” and that “conclusions just don’t match with reality.” The story claims that Ive’s leaving was a long time coming with the designer drifting away from the company in recent years, which has resulted in the team being rudderless and without leadership. Cook says in an email to NBC News reporter Dylan Byers that the Apple design team is “phenomenally talented” and “stronger than ever.” He says projects they’re working on “will blow you away.” It’s rare for the Apple CEO to talk about internal shakeups with reporters, but it seems this particular topic hit a nerve.