Apple is hiking the prices of MacBooks and iPads
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Shares of Apple (NASDAQ:AAPL | AAPL Price Prediction) are down 6% in midday trading on Thursday, sitting near $274 after closing the prior session at $293. The slide is Apple stock’s sharpest single-day move in months and stands out against its 38% one-year gain.
Apple cites "an unprecedented challenge" from the expansion of AI data centers.
Apple appears poised to take the rare step of increasing prices to deal with what CEO Tim Cook called an "unsustainable" memory shortage.
Wall Street Journal technology reporter Rolfe Winkler discusses his interview with Apple (AAPL) CEO Tim Cook, who said that rising memory costs have made iPhone price increases "unavoidable."