Tim Cook: 'Price increases are unavoidable' as memory shortage hits Apple

The global memory shortage has pushed many companies to raise prices on memory-heavy products, and Apple can no longer avoid the pressure. Tim Cook told the Wall Street Journal, "Unfortunately, price increases are unavoidable. We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable." Cook described the crisis as "a hundred-year flood," saying he had never seen anything like it in over 40 years.

He warned that both storage and memory are problematic and, on DRAM specifically, said: "There’s less supply at a time when consumers want devices and the memory guys are passing along huge price increases. We definitely need memory pricing and supply to return to reasonable levels for consumer products.

That’s the bottom line." The company is willing to use its balance sheet to help, Cook added: "We’re willing to use our balance sheet to help be a part of the solution.

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