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The tariffs will "increase prices for everything that's imported, and that includes food."

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Will the Proposed Trump Tariffs Increase the Price of Groceries/Goods/Services?

Apple CEO Tim Cook said price increases on the company's products are "unavoidable" due to surging memory and storage chip costs driven by AI demand. Cook did not specify which products would be affected or when increases would take effect.

Apple CEO Tim Cook said price increases on the company's products are "unavoidable" due to surging memory and storage chip costs driven by AI demand. Cook did not specify which products would be affected or when increases would take effect.

Research firm TechInsights estimates Apple would need to add about $270 to the price of the next iPhone Pro model to maintain its current profit margins amid rising chip costs. Apple's next major product launch is expected in September with the iPhone 18 lineup.

Research firm TechInsights estimates Apple would need to add about $270 to the price of the next iPhone Pro model to maintain its current profit margins amid rising chip costs. Apple's next major product launch is expected in September with the iPhone 18 lineup.

Memory and storage chip prices have quadrupled since major tech companies including Google, Microsoft, Meta and Amazon announced large increases in AI capital spending. Morgan Stanley forecasts U.S. smartphone and PC prices will rise 15% this year.

Memory and storage chip prices have quadrupled since major tech companies including Google, Microsoft, Meta and Amazon announced large increases in AI capital spending. Morgan Stanley forecasts U.S. smartphone and PC prices will rise 15% this year.

Memory chip costs for the iPhone 18 Pro could reach about $196, up from roughly $52 in the iPhone 17 Pro, according to TechInsights estimates. Quarterly price increases for memory chips have been at least 50% since late 2025.

Memory chip costs for the iPhone 18 Pro could reach about $196, up from roughly $52 in the iPhone 17 Pro, according to TechInsights estimates. Quarterly price increases for memory chips have been at least 50% since late 2025.

Cook said Apple is prepared to use its balance sheet to help secure chip supply but ruled out building its own memory or storage factories. Apple recorded more than $28 billion in operating cash flow last quarter.

Cook said Apple is prepared to use its balance sheet to help secure chip supply but ruled out building its own memory or storage factories. Apple recorded more than $28 billion in operating cash flow last quarter.

Cook, who is set to hand over leadership to John Ternus in September after 15 years as CEO, described the chip price surge as a "hundred-year flood," saying he had never seen a comparable commodity price swing in over 40 years working in electronics supply chains.

Cook, who is set to hand over leadership to John Ternus in September after 15 years as CEO, described the chip price surge as a "hundred-year flood," saying he had never seen a comparable commodity price swing in over 40 years working in electronics supply chains.

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