Apple Inc. (NASDAQ:AAPL) is preparing to raise prices across its product lineup after CEO Tim Cook acknowledged the company can no longer absorb skyrocketing costs for memory and storage components.

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Apple To Raise Prices

“Unfortunately, price increases are unavoidable,” Cook said in a Wall Street Journal interview published Wednesday. “We’re doing our best to mitigate the huge increases that are being passed to us, but the situation has become unsustainable.”

Cook declined to specify which devices will see higher sticker tags or when changes will take effect. Apple's next major launch, the iPhone 18 lineup, which is anticipated to include a foldable model, is expected in September. 

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